ANZ has ruled out financing to new or expanded oil and gas field and new liquefied natural gas (LNG) export plants, and has committed not to finance the giant new gas project Papua LNG.
ANZ has ruled out financing to new or expanded oil and gas field and new liquefied natural gas (LNG) export plants, and has committed not to finance the giant new gas project Papua LNG.
This announcement means that all big four Australian banks have now ruled out project finance for all new (greenfield) oil and gas fields.
Congratulations to our members at ANZ who have been advocating for this change and who have been putting pressure on the board and executives over the bank’s links to fossil fuel expansion and weak climate policies.
This achievement reflects the tireless efforts of those within the bank who have been pushing for more sustainable practices.
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