Shareholders in Australia's two top banks on Monday requested resolutions be put forth at upcoming annual general meetings to push the lenders disclose how they would avoid financing new or expanded fossil fuel projects.
, the country's fourth-largest lender, said the resolution was proposed by shareholders holding about 0.01% of its shares and represented by activist investor Market Forces.also said it had received a similar request but did not disclose the name of shareholders who proposed it.
A group of shareholders had filed climate change resolutions with Australia's three of the 'big four' banks last year, asking them to abide by their self-declared support for net-zero emissions by 2050 and stop financing fossil fuel projects.Westpac laid out plans earlier this year to reduce lending to coal, oil and gas companies by nearly a quarter by 2030, while ANZ said last year it aimed to lower scope 1 and 2 greenhouse emissions by 35% by 2030.
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