The banner and its message ‘CommBank: Dump Coal! Invest in our Future’ faces directly into the CBA headquarters at 201 Sussex St, above one of Sydney’s busiest motorways, where the bank’s senior executives and CEO, Ian Narev, work.
Activists are also handing out pamphlets and engaging with CommBank staff and members of the public to let them know about the bank’s continuing support of fossil fuel projects including the Adani coal mine.
“Despite publicly committing to action on climate change, the Commonwealth Bank loaned a massive$3.886 billion to fossil fuel projects in 2016 - the most of any of the big four banks[1],” Greenpeace Climate and Energy Campaigner Dr Nikola Čašule said.
“Greenpeace is calling on CommBank CEO, Ian Narev, and the members of the CommBank board to make good on their commitment to the environment and to follow the lead set by fellow big four bank Westpac by ruling out any involvement in new coal projects or the expansion of existing projects.”
Last week Westpac committed to not finance projects in any new thermal coal basins.
“In recent months we have seen yet another mass coral bleaching event threaten the destruction of large areas of the Great Barrier Reef due to the effects of global warming,” Čašule said.
“Commonwealth Bank can take the lead to prevent tragedies such as these and help reduce our dependence on fossil fuels.”
Surveys conducted by Greenpeace found that an overwhelming 73 per cent of Commbank customers wanted their bank to not invest in companies or projects that harm the environment.
“CommBank CEO, Ian Narev, has reassured the Australian people that he was listening when they told him actions speak louder than words. Yet last year his bank lent more money to fossil fuels than any other Australian bank and continues to facilitate the construction of the Adani Carmichael mega-mine in Queensland,” Čašule said.
“Greenpeace is calling on Mr Narev to live up to his promise to support a transition to a low carbon economy not only in words but with action. The Commonwealth Bank needs to pledge to end its funding of new coal projects and commit to a credible plan to reduce its exposure to fossil fuels to zero.”
The action is part of an ongoing campaign by Greenpeace Australia Pacific around coal financing in Australia.
What: 70-square metre banner reading ‘CommBank: Dump Coal! Invest in our Future’ facing directly into the CBA headquarters
Where: Pedestrian bridge connecting CBD to Darling Harbour, 201 Sussex Street
When: From 6am
For interviews contact:
Simon Black, Senior Media Campaigner
Tel: 0418 219 086
Email: simon.black@greenpeace.org