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flag ANZ and Westpac are Australia’s top fossil fuel financiers since 2022, despite climate pledges.

flag A report by clean energy group Market Forces reveals ANZ and Westpac have led Australia’s big four banks in fossil fuel financing since 2022, with ANZ providing $15.9 billion over the past decade—nearly $6 billion since 2022—and Westpac contributing $3.8 billion, including a $12.9 billion loan to BP. flag In contrast, Commonwealth Bank and NAB have sharply reduced exposure, with Commbank cutting oil and gas lending by 75% over three years. flag The report criticizes ANZ and Westpac for greenwashing, citing continued support for major fossil fuel firms despite climate commitments. flag While all four banks pledged in October to only finance fossil fuel clients with Paris-aligned Climate Transition Plans, Market Forces found Commbank and NAB took stronger action. flag Global emissions continue to rise, with fossil fuel production a key driver of projected 3°C warming this century. flag ANZ stated it remains a major energy sector lender while pursuing net-zero financing, but Westpac did not comment.

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