It's Time to Divest

To: David Hisco, CEO, ANZ Bank New Zealand, and David McLean, CEO, Westpac New Zealand

Dear Mr Hisco and Mr McLean, 

In the face of climate change, we all have choices. We can choose to be part of the problem, or part of the solution. I am choosing to be part of the solution, and would like to see ANZ and Westpac also stop being part of the problem. 

I call on ANZ NZ and Westpac NZ to live up to their climate change policies and make commitments to divest from fossil fuels. 

 

I am calling on ANZ and Westpac to:

  • Develop a policy stating that no investments will be made in coal, oil and gas projects

  • Commit to withdraw all investments in, and loans to, fossil fuel extraction companies within the next three years

ANZ and Westpac have six months to fulfil this request.

If the request to divest from fossil fuels is not fulfilled by November 25th, 2016, I pledge to:

  • Withdraw my money from ANZ/Westpac (if I currently use their services);

  • AND/OR Participate in activities to encourage your banks to divest from fossil fuels

  • AND Encourage others to join this movement

 

 

Signed,

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ANZ and Westpac are two of the largest lenders to fossil fuel projects in Australasia. If bank executives chose to stop lending to them, these projects would never get off the ground. We are giving them six months to divest from fossil fuels, after which point organisations, businesses, and individuals will begin pulling their money out of these banks.


Background

Despite making grand statements about their commitment to sustainability, ANZ and Westpac are continuing to lend billions of dollars a year to new coal mines and oil drilling projects - fuelling climate change. 

For the last two and a half years, we and our partner organisation in Australia have approached both ANZ and Westpac in numerous ways about divesting from fossil fuels. We have written to them, passed on reports with the latest research, we have mobilised their customers to get in touch and we have met with them in person. 

In May, over 500 people around the country participated in Break Free 2016, calling on ANZ to withdraw their $13.5 billion investments in coal and gas projects. In 2014 we targeted Westpac for their financing of the new Denniston Plateau coal mine. 

Enough is enough.
Now we are giving them six months to make it happen. 

We are calling on ANZ and Westpac to:

  • Commit to halting all new loans to coal, oil and gas projects

  • Commit to withdraw all investments in, and loans to, fossil fuel extraction companies within the next three years

They have six months to fulfil this request.

If the request to divest from fossil fuels is not fulfilled by November 25th, 2016, organisations and individuals will move their money away from their banks. 

We, the undersigned, pledge to:

  • Withdraw our money from ANZ/Westpac (if we currently use their services);

  • AND/OR Participate in activities to encourage ANZ/Westpac to divest from fossil fuels

  • AND Encourage others to join this movement