Australia is a global deforestation hotspot - and Australian banks are funding the destruction.
An investigation by ACF has analysed 100 cases of deforestation detected between July 2023 and July 2024 linked to major banks through mortgages. It shows that all of Australia’s big banks are continuing to loan to companies actively bulldozing the bush.
Banks have a powerful role to play in either helping or exacerbating Australia's extinction crisis. Banks can either facilitate nature destruction through their lending to certain activities and sectors, or they could help prevent it by setting strict conditions in their lending for activities and sectors that have a high risk for nature destruction. Yet most are failing to assess, monitor, or act on deforestation occurring in activities or businesses they are lending to.
Banks cannot claim to be managing climate or nature risk while turning a blind eye to bulldozers flattening forests in their loan books. They must contribute to internationally agreed goals to halting nature loss, forest loss and degradation by 2030.
How does your bank rank?
Find out how your bank shapes up in our latest investigation – then take action to let them know that Australian’s expect better. Follow the prompts to leave a public comment on their social media channels, asking them to do their part to protect nature and stop financing forest destruction!
Report unpacked: Which banks are financing deforestation?
Australia is a global deforestation hotspot - with the highest rate of forest clearing in the developed world. More than 50% of our native forests have already been cleared or severely damaged. Every year, hundreds of thousands of hectares of bushland are bulldozed — mostly to expand pasture for beef and sheep grazing.
This is why the agricultural sector is key to addressing deforestation. In recent years, there was more forest bulldozed for beef in Queensland than was destroyed for palm oil in Indonesia.
As a result, the number of threatened Australian species keeps rising. As of 2025, 2,245 ecosystems, plants and animals are officially listed as at risk of extinction, and deforestation is the leading cause.
Quick facts:
NAB was linked to twice as many cases of deforestation than any other bank, followed by ANZ and then CommBank, Rabobank, and Westpac.
Nine cases where bank mortgages were re-signed during or after the time deforestation was happening on properties.
Almost half the cases of deforestation financed by banks were reportable under Australia’s national nature law.
So, what are we asking the banks to do?
We are calling on all banks to set a no deforestation commitment for their lending.
By taking bold, science-aligned action now, Australian banks can help halt deforestation, protect biodiversity, and lead the transition to a more resilient economy that’s good for people and nature.
Find out more by reading the report, or take action now to call on your bank to help protect our precious forests and wildlife.