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Australia’s big four banks — ANZ, NAB, CommBank and Westpac — have poured a combined $61 billion into fossil fuels since the Paris Agreement was signed eight years ago, a new report found. Despite recent changes to lending, the report says banks have “continued greenwashing”, leaving banking customers “very concerned”. Last year was the first of the last eight that the big four banks did not explicitly fund new or expanding fossil fuel projects. But they still pumped $3.
” “Our financed emissions included in our emissions reduction pathways for the power generation, oil and gas and thermal coal sectors have reduced by 25, 30 and 96 per cent respectively, between 2020 and 2023.” The bank said that it had ”questions about the methodology of the report”, though the methodology outlined that banks “were given an opportunity to comment on financing attributed to them, none disputed participation in the deals featured in this dataset.
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