Extinction Rebellion

Sydney rebels pour scorn on NAB’s new policy greenwash

Sydney rebels pour scorn on NAB’s new policy greenwash

By Extinction Rebellion Australia, on 9 November 2021

NAB's updated oil and gas policy allows it to continue funding expansion of the fossil fuel industry, in spite of pledging to 'measure itself against' the global goal of net zero emissions by 2050.

Rebel Shaun was arrested today after releasing 'Greenwash' from the roof of NAB Headquarters in Sydney. Rebels held the line with drums and banners in spite of a massive police presence, to allow Shaun to complete the eye-catching message.

NAB announced this morning that their updated oil and gas policy will still allow funding of oil and gas projects, capped at $3.2 billion. Projects include the Scarborough gas field in Western Australia; the biggest fossil fuel project ever attempted in Australia’s history.

The bank made a number of commitments that sound positive, but would have little or no impact on its recent track record of funding projects that expand the fossil fuel industry.

The global goal of net zero emissions by 2050 means there must be an immediate end to new fossil fuel supply projects, and a rapid reduction in the production of all fossil fuels; coal, oil and gas.

In the face of the escalating climate crisis, NAB’s updated policy is a cynical exercise in greenwashing, and evidence that the bank prioritises profit over the any efforts to reduce the catastrophic effects of climate change.

Contact NAB using the form on the Market Forces website – tell the bank: until it withdraws its business for new oil and gas, you won’t do further business with it.


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