Shareholders hammer ANZ over fossil fuel funding

One activist claimed ANZ has funded A$2.2 billion in new exploration since the Paris Agreement was signed. (Image: ANZ)

Fri, 16 Dec 2022

ANZ’s leadership found themselves on the sharp end of shareholder activism at its annual general meeting yesterday, as a small but vocal group expressed their displeasure at the Australian bank’s funding of fossil fuel exploration projects.The conversation was sparked by a resolution proposed by the activism group, Market Forces, that would compel the company to demonstrate in annual reporting “how the company’s financing will not be used for the purposes of new or expanded fossil fuel projects”.The resolution was...

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