Banks Lend $43bn to Fossil Fuels as Planet Burns, Citing 'Shareholder Value'
Australia's 'big four' banks—ANZ and Westpac leading the charge—have shovelled a staggering $43 billion into fossil fuel companies over the last decade, with $30 billion specifically for expanding coal, oil, and gas projects, according to Market Forces. Meanwhile, these same institutions frequently publish glossy brochures extolling their 'net-zero' commitments. It appears their commitment only
stretches as far as the next quarterly report, not the next generation. This isn't just about 'the economy'; it's a deliberate choice to prioritise immediate, finite resource extraction profits over any semblance of a sustainable future. One might wonder how many more 'climate emergencies' it will take before the balance sheets reflect reality, not just speculative returns built on planetary
destruction. Perhaps they're calculating the carbon credits necessary to offset their own hypocrisy? (Hint: The Earth doesn't trade in those.)