Open Letter to the Commonwealth Bank Board to stop financing fossil fuels

Commonwealth Bank are preparing a new Environment, Sustainability and Governance (ESG) policy framework which the Board of the Bank will consider on August 9, 2023. I sent the board members the following email raising my concerns and asking them to take action.

US Banks greenwashing with carbon principles says RAN report

Banks have still got a long way to go to meet their own carbon principles says a new report from the Rainforest Action Network (RAN) in the US. Three leading banks put forward these carbon principles in February 2008 to make it tougher to finance conventional coal-fired plants in the US as a way to mitigate carbon emissions and climate change.

Six banks have now signed on to the Carbon principles, but the RAN report indicates adherence to the principles has been hollow and is just a greenwashing exercise by the banks.