Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2022-07-26 00:00:00
How China’s new complaints procedures can prevent ‘green’ ESG investments from harming local communities
2022-07-19 00:00:00
Jackdaw shows once again Shell is failing on climate. So why are its bankers failing to act?
2022-07-15 00:00:00
Can we stop the funding of more plastics?
2022-07-12 00:00:00
From fisherman to refugee, in part thanks to ING
2022-05-20 15:14:47
Seven financiers abandon TotalEnergies' EACOP pipeline in a week
2021-12-16 13:33:02
Cambo oil field "paused" following pressure on Shell & banks
2021-12-16 13:04:42
Equator Principles improve transparency after BankTrack shows the way
2021-11-02 11:03:26
ANZ launches human rights grievance mechanism in a first for the global banking sector
Connect
2022-07-05 00:00:00
Assessment of East African Crude Oil Pipeline (EACOP) and Associated Facilities’ Compliance with Equator Principles and IFC Performance Standards
2022-06-28 00:00:00
The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
2022-03-08 00:00:00
BankTrack Annual Report 2021
2022-03-03 00:00:00
Locked out of a Just Transition: fossil fuel financing in Africa
See all publications
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Home › News
Repeat offenders NAB, ANZ and Westpac bankrolling “bet against the Paris Agreement”
NAB, ANZ and Westpac are among 18 global banks that have loaned to a gas processing facility that paves the way for a carbon bomb at the scale of 15 coal power stations.
Start
Banks

By: Market Forces
2022-01-20

Contact:

contact@marketforces.org.au


Share this page:

Photo: Market Forces
Go to:
Start
Related Banks

The banks—including Japanese megabanks Mizuho, MUFG and SMBC, UK’s HSBC and Standard Chartered, and Bank of China—have been named as lenders to Global Infrastructure Partners (GIP) for its purchase of a 49% stake in gas giant Woodside’s new Pluto 2 LNG project. Woodside has said this deal is critical to its decision to go ahead with the Pluto 2 project and associated giant new offshore gas field, Scarborough.

We need to call these banks out for their climate hypocrisy! Tell the banks the Paris Agreement leaves no room for new gas projects.

It is estimated the Scarborough-Pluto project would enable 1.6 billion tonnes of CO2 emissions over its lifetime, equivalent to running 15 coal power stations for 30 years. The project also poses unacceptable risks to fragile marine life and irreplaceable Murujuga Aboriginal rock art, which is under consideration for World Heritage listing.

Independent analysis has concluded “Woodside’s proposed Scarborough to Pluto LNG project in Western Australia represents a bet against the world implementing the Paris Agreement,” while the International Energy Agency has confirmed “there is no need for investment in new fossil fuel supply in our net zero pathway”.

Yet no less than 18 banks are providing the money needed for the project to go ahead.

Make sure NAB, ANZ, Westpac, and all the other banks involved, know the community won’t stand for them lighting the fuse on the Scarborough-Pluto carbon bomb.

Despite claiming to take climate change seriously and having their own commitments to goals of the Paris Agreement and net zero emissions by 2050, many of these banks are repeat offenders when it comes to financing new climate-wrecking fossil fuel projects.

Lead arranger of this deal NAB has loaned $9.5 billion to fossil fuels since January 2016, including $2 billion to companies with business plans consistent with the Paris Agreement’s failure, and $1.5 billion to new or expanded fossil fuel projects. ANZ has loaned a whopping $14 billion to fossil fuels since 2016, and Westpac $6.7 billion.

Tell the banks: meeting their climate commitments means no lending to new fossil fuels.

From www.marketforces.org

Go to:
Start
Related Banks

Related banks

ANZ Australia

active

Banco Santander Spain

active

Bank of China China

active

Crédit Agricole France

active

HSBC United Kingdom

active

Industrial and Commercial Bank of China (ICBC) China

active

Intesa Sanpaolo Italy

active

Korea Development Bank (KDB) South Korea

active

Mitsubishi UFJ Financial Group (MUFG) Japan

active

Mizuho Financial Group Japan

active

National Australia Bank (NAB) Australia

active

Natixis France

active

Société Générale France

active

Standard Chartered United Kingdom

active

Sumitomo Mitsui Banking Corporation (SMBC) Japan

active

United Overseas Bank (UOB) Singapore

active

Westpac Australia

active

NORD/LB Germany

on record
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted