Shareholders demand banks to not funding gas projects
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