Tell NAB to rule out Beetaloo, Narrabri and Scarborough

NAB has finally released their updated oil and gas lending policy, and after 6 months of pressure from activists, they’ve made some commitments to phase out oil and gas exposure and have ruled out investments in overseas gas projects and most greenfield gas projects in Australia.

The test for NAB now is whether they will follow words with action. This policy is not worth the paper it's written on if they continue to invest in the expansion of the fossil fuel industry - both here and overseas. Read More

Write to NAB's Social Impact Team

Dear NAB ESG team,

I was interested to read your updated oil and gas lending policy this morning. While there are positive moves on reducing your investment in fossil fuels, I want to know that your policy is not strong enough to stop you lending to some of Australia’s most dangerous oil and gas projects.

Beetaloo, NT: 
Coming in at 6999 PJ of 2C gas reserves, the Beetaloo would create 392,643,900 tonnes of CO2. Traditional Owners have been denied the right to Free, Prior and Informed Consent about fracking on their land, and have been vocal about their opposition to companies like Empire Energy, Santos and Origin drilling for fracked gas in the NT. The majority of this gas is intended to be exported to overseas markets.

Narrabri, NSW: 
The Gunnedah Basin is 971PJ of 2C gas reserves which would emit 54,473,100 tonnes of CO2. The Gomeroi people are concerned about the protection of sacred sites. Local farmers are concerned about water and land health, and communities are not comfortable with the local health impacts that would come from coal seam gas facilities.

Scarborough, WA: 
Claiming the title of the biggest fossil fuel project in Australia - Scarborough gas field is 13,715PJ of 2C gas reserves sitting on the North West Shelf of WA. If exploited it will emit 1.6 billion tonnes of carbon over the next 20 years. NAB’s involvement in the Pluto Train 2 project flies in the face of any commitment to net zero by 2050.

I am calling on NAB to rule out any involvement with these projects to show commitment to achieving net zero by 2050.

There are many exemptions and loopholes in the latest policy, and I would like to see your words turned into action for our shared planet. 
Thank you,

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