The Banking on Climate Chaos report revealed ANZ, NAB, Westpac and CBA are in the top 65 banks funding fossil fuels globally. Since 2021, the big four have financed almost AU$40 billion worth of fossil fuel projects. ANZ remains the worst Australian bank for fossil fuel lending, providing close to AU$3 billion to fossil fuels in 2025, moving up a place since the year before.
Rachel Dobric, Campaign Manager at ActionAid Australia, said:
“Australians rightfully expect our banks to honour their climate commitments and stop financing fossil fuels, which are having a devastating impact on women and communities around the world. The effects of climate change could not be clearer, and communities who have done the least to cause the problem are paying the biggest price.”
“It’s disappointing that ANZ remains the worst, and to see backsliding from the Commonwealth Bank in this report. In 2024, they promised to stop finance to any fossil fuel companies not aligned with the Paris Agreement – but they’ve lent more to fossil fuels in 2025 than any other year since 2021.”
The Banking on Climate Chaos: Fossil Fuel Finance Report 2026, which ActionAid has officially endorsed, is the world’s most significant report on fossil fuel financing, produced by the Banking on Climate Chaos Coalition, which includes the Rainforest Action Network, BankTrack, Center for Energy, Ecology, and Development, Indigenous Environmental Network, Oil Change International, Reclaim Finance, the Sierra Club, and Urgewald.
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The Banking on Climate Chaos report is available in full here: www.bankingonclimatechaos.org
Rachel Dobric, ActionAid Australia Campaign Manager, is available for interviews.
Contact
Stephanie Wulf, Senior Communications Manager, ActionAid Australia
+61 (0)456 952 836
About ActionAid
ActionAid is a global women’s rights organisation, working with women on the frontlines of injustice – including the climate crisis, conflicts, and humanitarian emergencies. Our dedicated local staff work with more than 41 million people living in 71 countries, supporting women to transform their lives and their communities.