Climate justice organisation 350 Aotearoa welcomes ACC’s new climate change policy that lays out plans to decarbonise its investments but calls for ACC to commit to full divestment from coal, oil, and gas companies by 2021.
Westpac’s announcement to end its financing of thermal coal projects by 2030 is a small step in the right direction. However, the bank needs to extend its phase-out of fossil fuel finance to oil and gas companies to support its commitment to limit climate change to 1.5C and achieve the goals of the Paris Agreement.
Secret plans for ANZ to cut thermal coal mining exposure by 75% by March 2024 have been leaked by internal sources today. 350 Aotearoa campaigner, Claudia Palmer comments on how much further action is needed from the bank.
Today posters have gone up outside ANZ branches across New Zealand to expose ANZ’s sponsorship of an exclusive oil industry group, ‘The Petroleum Club’. The satirical posters play on ANZ’s recent ad campaigns, replacing the banks’ tagline ‘healthy homes start here’ with ‘the climate crisis starts here’, and feature ANZ’s logo dripping in oil.