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.
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