The Bushfire Survivors for Climate Action group has sent an open letter to the major Australian banks calling on them to stop funding new fossil fuel projects and to set dates by which their exposure to coal, oil and gas will be completely phased out, in line with 1.5 degrees of global warming.
Holding these difficult times in our hearts FoE continues to fight for a world where environmental protection, social justice and economic welfare for all, go hand in hand. Communities really are rising up louder than ever. Read our monthly newsletter for many opportunities to stand with us and get involved.
Australian Bushfire victims, together with Friends of the Earth Australia, will launch a claim against ANZ under international law to hold the bank accountable for financing fossil fuel projects that contribute to the climate crisis.
In November each year BHP holds its Australian AGM. The world's biggest mining company recently has been using the opportunity to tell its hundreds of attendant shareholders how it is committing to a clean transition from being one of the biggest carbon emitters to one of the biggest providers of 'green' minerals for the renewable energy sector.
Profound structural change is already underway in Australia. The country is going through a poorly planned energy transition due to failures in government policy. Neither energy generators or the workers who rely on these sectors have the certainty they need. Inaction by the federal government has resulted in investment uncertainty and hence inconsistent growth in renewables, storage and efficiency. This uncertainty, matched with the impacts of globalisation and climate change, and an industrial relations system that is not working for the benefit of the majority of working people has led to workers, particularly in regional Australia, exposed to changing industries and insecure jobs.
New report uncovers Australian banks financing palm oil companies responsible for deforestation and human rights violations
Friends of the Earth Australia media release. June 26, 2019 The Big four banks who were found to be exploiting Australians in the royal commission have been exposed in new research by Friends of the Earth to be financing even worse practices overseas. During the 2010–2018 period, the big four Australian banks had a total financial involvement (across loans, underwriting, bond holdings and shareholdings) of at least US$6.4 billion(AUD $9.5 Billion) in six major companies involved in the palm oil supply chain. Approximately $928 million (AUD$1.3billion) of this would be directly exposed to the palm oil business, given that these companies are involved in a number of business sectors of which palm oil is one.
By Lian Sinclair Buzzfeed's recent exposé of WWF's practices around the world has shocked the public, funders and regulators.