DEAR News Of The Area,

A NEW report, Banking Climate Failure, by not-for-profit, Market Forces, reveals Australia’s big four banks have used smoke and mirrors to continue pouring billions of dollars into fossil fuel expansion.

Despite claiming to support the climate goals of the 2015 Paris Agreement and net zero emissions by 2050, the report finds that the four big Australian banks provided a total of $7.6 billion to projects and companies expanding the scale of the coal, oil and gas industries over the past two years.

NAB has been the most regressive of the big four banks over the last two years, increasing its funding to the fossil fuel industry to $4.5 billion.

In particular, NAB has lent $3.3 billion to the coal industry alone since 2015.

Members of the Coffs Coast Climate Action Group and local Knitting Nannas will be delivering copies of the Banking Climate Failure report to the local Coffs Harbour and Woolgoolga NAB branches to discuss the report with the Managers and any interested staff or customers.

The report is available on the Market Forces website for all to read.

Regards,
A JOHNSON,
Korora.