CommBank is fuelling climate chaos
Australia’s biggest bank has invested $7 billion in fossil fuels.
Right now, CommBank is reviewing their oil and gas lending policy. If we can pressure CommBank to rule out lending to companies that are fuelling climate chaos, we can stop some major Australian and international oil & gas projects.
Sign the petition to the CommBank CEO now to add your voice to a growing chorus demanding that CommBank end oil & gas lending.
CommBank CAN end fossil finance
Australia’s biggest bank has invested $14 in fossil fuel projects, with $12.7 billion going to oil & gas since committing to the Paris Climate Agreement (Market Forces, Rainforest Action Network).
Right now, Commbank is reviewing their oil and gas lending policy – if we can pressure Commbank to rule out lending to companies that are fuelling climate chaos, we can stop some major Australian and international oil and gas projects from drilling.
Sign now to tell CommBank to end oil and gas lending now!
Sign the petition now to add you voice to a growing chorus demanding Commbank:
- Rule out any new oil and gas financing
- Phase out of all oil and gas financing by 2030
How much does CommBank lend to fossil fuels?
CommBank has invested a total of $7,572.85 million USD in fossil fuels since 2016, according to the Banking on Climate Chaos report. These are their top 10 biggest fossil fuel customers:
* This data comes from the Banking on Climate Chaos report by Rainforest Action Network
CommBank CAN protect our climate
Everyone deserves to thrive in a safe climate, but CommBank is undermining our future by financing oil and gas companies during a climate crisis. Communities are already experiencing worsening bushfires, droughts and floods. Torres Strait Islanders are fighting to protect their homes from rising seas. The Great Barrier Reef is under threat from mass bleaching.
The world’s energy organisation, the International Energy Agency, has declared that there can be no new oil or gas projects if humanity is to reach net-zero emissions by 2050 . The IEA report shows that new gas projects in Australia – including those in the Beetaloo Basin, the Canning Basin, the Narrabri Gas Project, and the Scarborough project and LNG plant – are not compatible with reaching net zero emissions by 2050 and should not be financed.
CommBank has committed to the Paris Agreement – now they should align their actions to be consistent with this goal. Oil and gas are dangerous fossil fuels driving climate change. Clean energy is the key to a healthy future for everyone.
What can CommBank do?
Rule Out
Immediately stop financing companies and projects expanding coal, oil and gas
Divest
Reduce all fossil fuel exposure to zero by 2030
Invest
Invest in the rapid and just transition to renewable energy
Resources to help you win
Banks care about 3 things – money, brand and talent. By talking to CommBank’s customers and staff, holding creative actions, and building the case against gas, we can put pressure on CommBank to rule out new oil and gas financing in their 2023 policy review.
Posters
Download posters and flyers to put up in your community to spread the word.
Adopting a bank
Talk to your local CommBank branch staff about your concerns with their fossil fuel lending.
Switching banks
Pledge to close your account on Divestment Day to show CommBank you mean business.
We can have a better future, safe from the impacts of climate change.
