Press Release: Climate groups protest ANZ as “roadblock to real climate action” in light of IPCC 1.5°C report
12 October, 2018
Today, grassroots climate groups took action outside ANZ branches calling for ANZ to stop financing the fossil fuel industry and contributing to the climate change crisis. The actions are a response to the Intergovernmental Panel of Climate Change (IPCC) report released on 8 October that outlines the impacts and feasibility of a 1.5°C warming scenario. The difference between 1.5°C and 2°C of warming is life and death for millions of people.
350 Aotearoa Executive Director Erica Finnie said “The IPCC report makes the science clear: immediate action is needed to stay below 1.5 degrees if warming. Anyone who continues to support new fossil fuel projects is knowingly contributing to untold suffering and devastation across the world. Banks hold significant power in propping up the fossil fuel industry’s business as usual by financing their operations. Of New Zealand’s banks, ANZ are the biggest funder of of new expansionary fossil fuel projects. Despite publicly championing the Paris Climate Agreement, since 2015 ANZ bank have loaned over $7 billion dollars to fossil fuel projects. It’s time for ANZ to cut its ties with the fossil fuel industry and stop funding climate change.”
Local 350 Aotearoa groups in Auckland, Wellington, Nelson, and Christchurch held warning signs outside ANZ branches to alert customers and the public to ANZ’s relationship with the fossil fuel industry. “ANZ are a roadblock to a safe climate future. If we are to have any chance of meeting the 1.5°C target in the Paris agreement, we need a just transition to 100% renewable energy for all. ANZ are lending billions of dollars to projects that damage the environment and drive climate change, sustaining an industry that is coming to its inevitable end. Their continued support of the fossil fuel industry undermine their commitment to the Paris Agreement and any real action on climate change.” 350 Aotearoa is urging for the banks in New Zealand to immediately halt lending to fossil fuel companies and projects and implement policies that rule out future lending or investment to the industry.
The delivery of the IPCC reports today coincides with a global day of action, where grassroots climate groups around the world are delivering the IPCC’s report directly to decision-makers who are supporting the fossil fuel industry.