Since 2016, NAB has loaned more than $1 billion for new or expanded fossil fuel projects.
Last week its CEO told the Australian Parliament’s Standing Committee on Economics that NAB is measuring itself against the conclusions of the International Energy Agency’s (IEA) ‘Net Zero by 2050’ scenario.
However, last May this report concluded that to achieve this outcome, there could be no new or expanded coal, oil and gas projects.
NAB plays a crucial role in funding expansion of the fossil fuel industry, and its withdrawal would have major impacts.
Tell NAB: measuring up to net zero by 2050 means no funding of new fossil fuel projects, or the companies pursuing them.