Bank shareholders lodged resolutions to the big four banks and asked them to demonstrate they weren’t funding gas and oil projects.
But in a surprising movement, the big four banks announced they have co-financed different oil and gas projects worth more than $1 billion dollars each project.
Some projects are the Barossa Project owned by Santos, and the Scarborough gas project, financed by ANZ and Westpac.
Now more than a hundred shareholders want the banks to stick to their climate action target by not funding these projects to tackle climate change.
Produced By: Eduardo Jordan
Featured In Story: Will van de Pol – Asset Management Campaigner from Market Forces
First aired on The Wire, Thursday 13 October 2022