Our Letter to ANZ

Updated: Aug 7

Recently, we sent a letter to ANZ as a customer, congratulating them on the decision to withdraw financial support from coal , and asking them to also withdraw their financial support of oil and gas. We received a reply. You can see the content of the letter here:

Thank you for your recent email about our lending and climate change. Reducing emissions is a shared societal responsibility and requires a ‘whole-of-economy’ approach. To support the transition to net zero emissions by 2050, our Climate Change Statement focuses on three areas: 1) helping our customers; 2) supporting transitioning industries; and 3) reducing our own impact. Specifically, we are:
supporting more diversified energy customers and increasing our lending to lower carbon energy. This means we will no longer bank any new business customers with material thermal coal exposures, meaning more than 10 per cent. This is down from the current 50 per cent threshold;
engaging with existing customers who have more