It’s a big day when not one but two of the big banks we’ve been asking to quit fossil fuels commit to limiting global warming to 2 degrees or less!
The Commonwealth Bank and the National Australia Bank (NAB) have just stated their support for the 2-degree target and flagged moves to increase investment in renewable energy.
But, as you know too well, a real commitment to 2 degrees must mean a commitment to phasing out all fossil fuels.
Join us in thanking NAB and CommBank for their announcement and call upon them to commit to a full phase out of finance for fossil fuels.
We now have all four of the Big Banks saying something about climate change and their businesses before Paris. This sends a strong market signal that investment in fossil fuels is not in line with maintaining a safe climate for our future. It also provides much-needed momentum in the push to get our Governments to do more on climate.
 Commonwealth Bank, National Australia Bank join 2-degree climate change push, Sydney Morning Herald, 5th November 2015.