The big 4 banks have publicly committed to stop financing coal by 2030 or 2035. That's great. But all 4 still invest billions each in another ageing fossil fuel that harms our climate – gas! And they have no plans to stop.
People power got the banks to quit coal. Now, we as community, customers, and shareholders can speak out again to get the banks out of gas.
Check where your bank ranks on gas, then ask them to be the first big bank to exit gas and invest in a safe future for everyone 👇
❌ Westpac is the big 4 bank with the least invested in gas and oil extraction at 'only' $2.22 billion. Right now, they have no exit plans to move their money out of climate-wrecking gas.
✔️ Westpac are moving in the right direction for our climate. In the last two years they have reduced their investment in gas and oil extraction by almost $2 billion. Now they have an opportunity to be the first big 4 bank to set a firm exit date from all gas investment.
✔️ Last year Westpac publicly announced they would stop financing thermal coal by 2030. In addition to that, they have committed to review their gas and oil policy this year. If enough of us speak out and show Westpac the community demand for more climate action, the bank could take the next step and move their money out of gas.
Are you with Westpac? Ask them to be the first big 4 bank to exit gas today.
❌ NAB currently has $2.74 billion invested in gas and oil extraction with no exit plans to move their money out.
✔️ NAB has recently cut its investments in gas and oil by about $2 billion. This is positive climate action! Now it's time for NAB to keep this momentum up and commit to cutting all their gas investments.
❌ While the other big banks have publicly committed to exit thermal coal investment by 2030, NAB has only committed to exit coal by 2035. And since 2016, NAB has funded at least 10 gas projects in the United States. It's time for NAB to make stronger commitments to tackling climate damage.
✔️ NAB has promised to review its gas and oil policy in 2021, so now is the time for us to ask them to move their money out of gas, and commit to make no new investments in the ageing fossil fuel.
Are you with NAB? Ask them to be the first big 4 bank to exit gas today.
❌ Commbank currently has $3.5 billion invested in gas and oil extraction with no exit plans to move their money out of gas.
❌ While Westpac and NAB have both recently decreased their gas investments, Commbank has remained steadfast in their financial support of gas.
❌ Commbank helped finance a loan for a new Texan gas pipeline that can transport 2.1bn cubic feet of gas daily, despite publicly committing to not invest in projects that do not align with the Paris climate agreement to limit global warming below 1.5 degrees compared to pre-industrial levels.
✔️ Commbank was the first big 4 bank in Australia to make a public commitment that they would stop financing coal. Their initiative motivated the other big banks to follow. Can they show this kind of leadership again and be the first big bank to exit gas?
Are you with Commbank? Ask them to be the first big 4 bank to exit gas today.
❌ When it comes to looking after our climate, ANZ is the worst of the big 4 banks. Right now, they have $8.2 billion invested in gas and oil extraction with no commitment to stop financing gas projects, nor move their money out of gas.
❌ ANZ is the only big 4 bank that is expanding their gas investments. Since 2017, ANZ has invested a new $1.2 billion into gas and oil extraction despite knowing it causes climate damage.
❌ ANZ was the last of the big 4 banks to set an exit date for thermal coal investment. Bushfires, drought, the climate crisis is here, now, and it's time for ANZ to be more proactive and protect our climate.
Are you with ANZ? Ask them to be the first big 4 bank to exit gas today.