Australia’s big four banks fund $61 billion to fossil fuel companies

A new report by Market Forces a non-for-profit climate group reveals, Australia’s big four banks have collectively financed over $61 billion into fossil fuel projects since the Paris Agreement, despite their public commitments to climate goals.

In 2023 alone, these banks loaned $3.6 billion to fossil fuel companies, including $2.5 billion to those expanding coal, oil, and gas industries.

Image: Image from Cloudfront

Produced By: Moemina Shukur

Featured In Story: Kyle Robertson – Senior Banks Analyst of Market Forces

First aired on The Wire, Tuesday 16 July 2024