New ANZ CEO Must Stop Financing Fossil Fuels
ActionAid Australia has called on newly appointed ANZ bank CEO Nuno Matos to prioritise ending the finance of fossil fuel projects, as he commences his new role today.
From the time the Paris Agreement was signed in 2016 to 2023, ANZ funnelled almost AUD 20 billion to coal, oil and gas – causing devastating impacts for the climate and for women and their communities living near companies’ fossil fuel projects.
“ANZ’s continued funding of fossil fuels is putting communities and the climate at risk. Mr Matos’ action on fossil fuels finance will be a true test of his leadership,” said Rachel Dobric, ActionAid Australia’s Campaign Manager.
“The International Energy Agency has said for years that to limit global warming to 1.5 degrees, we cannot have any new expansion of coal, oil or gas. Closing ANZ’s policy loopholes and stopping its financing of fossil fuel projects is well overdue.”
“As Mr Matos steps into ANZ’s top role, the big question is, will he offer more of the same climate chaos, or reshape ANZ into the bank of the future?”