Australia is not alone in facing escalating climate chaos. Across the Pacific, communities are experiencing climate disaster after climate disaster, and the existential threat of rising seas.
How Australian banks are fuelling climate chaos
The National Climate Risk Assessment makes it clear – there is no room for fossil fuels if we want to avoid the worst impacts of climate change. However, Australian banks continue to direct billions of dollars to the fossil fuel companies that are driving climate chaos across Australia and around the world.
We’ve created a new bank tracker to see if your bank is funding fossil fuels, so you can understand how their investments are contributing to climate disaster.
In the last four years, Australia’s Big Four banks have provided more than AUD$34.6 billion to fossil fuel companies. Instead of investing in a better tomorrow, our banks are choosing to support projects that are worsening the very risks the government’s new report has warned us about.
Australian banks’ investments in fossil fuels are driving devastating climate impacts, with First Nations communities and women and marginalised communities in the Global South impacted the most by disasters, displacement, violation of rights, and increased risk of gender-based violence.
Why are we focussing on ANZ?
Of all Australian banks, ANZ is the worst culprit. Despite its commitment to limit global warming to 1.5ºC, it has bankrolled the fossil fuel industry to the tune of over AUD$12.6 billion since 2021. It’s up to us to tell ANZ to cut off the finance that fuels climate chaos.
We need our banks to step up and change our path from climate chaos to a feminist, fossil free future. We can demand a better tomorrow, together. Will you join the call? Add your name to our letter to ANZ, calling on them to cut off the finance that’s fuelling the climate crisis.