Tell ANZ to Go Fossil Free

Despite publicly championing the Paris Climate Agreement, since 2015 ANZ bank has loaned over $7 billion dollars to fossil fuel projects. Worse still, these loans include a 50% spike in NEW climate-wrecking fossil fuel projects. From 2018-2019, ANZ increased its investments in fossil fuels by 8%.

When the difference between 1.5°C and 2°C is life and death for millions of people, this sort of behaviour is criminal. ANZ’s business-as-usual approach puts us on track for 3.5°C warming.

If we are to have any chance of meeting the 1.5°C target in the Paris agreement, we need a just transition to 100% renewable energy for all. ANZ is a roadblock to this urgent climate action.

Write to ANZ New Zealand CEO Antonia Watson and let them know that you are putting ANZ on notice.

Tell ANZ New Zealand CEO Antonia Watson to divest from Fossil Fuels

Dear Antonia Watson,

I am writing to you urging you to divest ANZ New Zealand from fossil fuels and immediately halt lending to fossil fuel companies and projects.

The Intergovernmental Panel on Climate Change (IPCC) presented a report in 2018 which outlines the path necessary to curb the global average temperatures to 1.5°C, as outlined in the Paris Climate Accord.

ANZ's climate change statement says, "We support the goal of governments around the world seeking to limit the average global temperature rise to no more than 2°C above pre-industrial levels."

But it seems these words are empty.

In the 18 months following the Paris Climate Agreement, ANZ  invested over $7 billion into new, expansionary oil and gas projects -including the Ichthys LNG terminal, Interoil Elk-Antelope fields, Johan Sverdup oil field, and the Medco NTH Sumatra gas field.

When the difference between 1.5°C and 2°C is life and death for millions of people, this sort of behaviour is criminal. The science is clear: your business-as-usual approach puts us on track for an unsafe climate future.

The reality is 1.5°C of warming = Zero fossil fuels. This is the level that scientists agree we cannot exceed if we’re to keep within safe limits, and to achieve it we must leave at least 80% of known fossil fuel reserves in the ground.

In light of this, it is necessary that the New Zealand subsidiary of ANZ adopt the following measures:

Immediately halting all new loans to coal, oil and gas projects (including no refinancing of existing loans).

Set clear targets and a timeline to phase out fossil fuel exposure to meet the 1.5°C warming limit.

Making a formal proposition to the Group CEO and Board for the adoption of a divestment pledge at the Group-level, within 18 months.

It's time for you to take responsibility for your role in the climate crisis.

Sincerely,

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Tell ANZ to Go Fossil Free

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