Big news: National Australia Bank is ruling out thermal coal mines!

Big4card|WinCoalbank-690x358
|

Today, NAB joins a rapidly growing list of banks that are walking away from dirty fossil fuels because you’ve made them see the truth: there is no future in fossil fuels. Will you help ANZ and Westpac wake up too?

What has NAB said? 

  1. This means NAB won’t be funding any new thermal coalmines, full stop. That’s a huge blow to Australia’s dirtiest industry and a huge win for the communities affected by it. 
  2. The “risk appetite statement” is formal bank policy, making this the largest step any Australian bank has taken so far towards preventing catastrophic climate change. 

Looks like the banks are waking up. 

NAB is certainly not alone in dumping dirty fossil fuels.  Just yesterday, three of the largest financial institutions in the world made major announcements of their own:

 

Each of those statements is an enormous win for our movement, and our planet. 
 
And here in Australia you’ve made a huge difference too! Last month, after years of pressure from a huge movement of people from all over the country (and more than 100,000 of us taking action in the last eight months alone), Commbank’s Chair used the bank’s yearly AGM to announce that the bank will be leaving coal! And we know NAB were watching their largest competitor’s announcement very closely. 
It looks like we are turning the tide. You have made one bank after another see the truth:  there’s no future in fossil fuels. Now will you help WestPac and ANZ realise the same?