Action for week starting 13.7.20 – The banks and fossil fuel lending

Tell Australia’s big banks to stop backing fossil fuel expansion.

Market Forces has spent the past 12 months researching and compiling data on lending by ANZ, CommBank, NAB and Westpac, to see how well their rhetoric on support for the Paris Agreement matches their actual lending. 

The sheer hypocrisy of what they found is breathtaking:

$35.5 billion has been ploughed into the coal, oil and gas industries by the big banks since 2016.

There are over $100 billion of proposed new fossil fuel projects looking for funding in Australia right now. The big banks’ decisions on investments will make or break the chances of these projects.

We need the banks to commit to the Paris Agreement goal:  1.5 degrees means no new fossil fuels!

You can send an email to your own bank, or to all four banks, even if you’re not a customer or shareholder.

Tell the banks: 1.5 degrees means no more fossil fuels! Easy email link here.

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