{"id":79112,"date":"2025-01-15T15:07:41","date_gmt":"2025-01-15T04:07:41","guid":{"rendered":"https:\/\/www.marketforces.org.au\/?page_id=79112"},"modified":"2025-07-01T12:29:39","modified_gmt":"2025-07-01T02:29:39","slug":"westpac-bank-agm-season-update-dec-2024","status":"publish","type":"page","link":"https:\/\/www.marketforces.org.au\/campaigns\/banks\/westpac-bank-agm-season-update-dec-2024\/","title":{"rendered":"WESTPAC – Bank AGM Season Update – Dec 2024"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.23″ _module_preset=”default” custom_padding=”0px||12px||false|false” global_module=”69001″ saved_tabs=”all” global_colors_info=”{}”][et_pb_row module_class=”mf-breadcrumbs” _builder_version=”4.23″ _module_preset=”default” max_width=”1440px” custom_padding=”0px||0px||false|false” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_code _builder_version=”4.27.0″ _module_preset=”default” custom_css_main_element=”margin: auto;” global_colors_info=”{}”]Home<\/a><\/span><\/span>[\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” admin_label=”Section – Header” _builder_version=”4.27.4″ _module_preset=”default” background_image=”https:\/\/www.marketforces.org.au\/wp-content\/uploads\/2025\/01\/DSC02589-scaled.jpg” width_tablet=”90%” width_phone=”90%” width_last_edited=”on|phone” max_width=”1440px” module_alignment=”center” min_height=”410px” min_height_tablet=”410px” min_height_phone=”410px” min_height_last_edited=”on|phone” custom_margin=”||||false|false” custom_padding=”0px|0px|0px|0px|false|false” custom_padding_tablet=”0px|0px|0px|0px|false|false” custom_padding_phone=”||||false|false” background_last_edited=”on|phone” background_image_phone=”https:\/\/www.marketforces.org.au\/wp-content\/uploads\/2023\/12\/IMG_6135-1.jpg” background_enable_image_phone=”on” background_size_phone=”contain” background_position_phone=”top_center” custom_css_main_element=”display: flex;|| align-items: flex-end;|| justify-content: center;” saved_tabs=”all” global_colors_info=”{}”][et_pb_row _builder_version=”4.20.0″ _module_preset=”default” background_color=”#FFFFFF” width=”100%” max_width=”885px” module_alignment=”center” custom_padding=”29px|49px|0px|49px|false|true” custom_css_main_element=”align-self: flex-end;|| margin: unset;” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” text_font=”Poppins|600||on|||||” text_text_color=”#fa6d6d” text_line_height=”1.42em” custom_margin=”||8px||false|false” global_colors_info=”{}”]<\/p>\n

Banks<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.23″ _module_preset=”default” header_font=”Inter|800|||||||” header_text_color=”#131313″ custom_margin=”||1px|||” header_font_size_tablet=”48px” header_font_size_phone=”42px” header_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n

Westpac<\/h1>\n

[\/et_pb_text][et_pb_text _builder_version=”4.23″ _module_preset=”default” header_2_font=”Inter|800|||||||” header_2_text_color=”#131313″ header_2_font_size=”24px” header_2_line_height=”1.2em” global_colors_info=”{}”]<\/p>\n

Bank AGM Season 2024<\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section – Social Sharing left floatin” module_class=”share-float-left” _builder_version=”4.21.0″ _module_preset=”default” custom_padding=”63px||63px||true|false” global_colors_info=”{}”][et_pb_row use_custom_gutter=”on” gutter_width=”1″ _builder_version=”4.20.0″ _module_preset=”default” background_color=”#fafafa” custom_padding=”25px|30px|25px|30px|true|true” custom_css_main_element=”display: flex;|| align-items: center;” global_colors_info=”{}” custom_css_main_element_last_edited=”on|phone” custom_css_main_element_tablet=”display: block;” custom_css_main_element_phone=”display: block;”][et_pb_column type=”4_4″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” text_font=”Poppins|500|||||||” text_text_color=”#b2b2b2″ text_font_size=”12px” text_line_height=”1.5em” global_colors_info=”{}”]<\/p>\n

Last updated:
\nJuly 2025<\/p>\n

[\/et_pb_text][et_pb_divider color=”#f2f2f2″ divider_weight=”4px” _builder_version=”4.20.2″ _module_preset=”default” width=”40px” max_width=”40px” module_alignment=”left” custom_margin=”20px||||false|false” global_colors_info=”{}”][\/et_pb_divider][dssb_sharing_buttons use_custom_icon_size=”on” icon_font_size=”14px” icon_bg=”#fa6d6d” icon_padding=”16px” btn_padding=”||15px||false|false” use_sharing_title=”on” sharing_title=”Share” sharing_title_inline=”on” module_class=”share-inline” _builder_version=”4.21.0″ _module_preset=”default” sharing_title_font=”|600||on|||||” sharing_title_text_align=”left” width=”100%” max_width=”100%” module_alignment=”left” custom_margin=”||0px||false|false” custom_padding=”||||false|false” border_radii_icon=”on|50%|50%|50%|50%” global_colors_info=”{}”][dssb_sharing_button social_network=”linkedin” _builder_version=”4.20.0″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_margin=”||0px||false|false” custom_padding=”||||false|false” border_color_all_item=”RGBA(255,255,255,0)” global_colors_info=”{}”][\/dssb_sharing_button][dssb_sharing_button _builder_version=”4.20.0″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_margin=”||0px||false|false” custom_padding=”||||false|false” border_color_all_item=”RGBA(255,255,255,0)” global_colors_info=”{}”][\/dssb_sharing_button][dssb_sharing_button social_network=”twitter” _builder_version=”4.20.0″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_margin=”||0px||false|false” custom_padding=”||||false|false” border_color_all_item=”RGBA(255,255,255,0)” global_colors_info=”{}”][\/dssb_sharing_button][dssb_sharing_button social_network=”email” _builder_version=”4.21.0″ _module_preset=”default” background_color=”RGBA(255,255,255,0)” background_enable_color=”on” custom_margin=”||0px||false|false” custom_padding=”||||false|false” border_color_all_item=”RGBA(255,255,255,0)” global_colors_info=”{}”][\/dssb_sharing_button][\/dssb_sharing_buttons][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section – Actions” module_id=”section-take-action” _builder_version=”4.21.0″ _module_preset=”default” custom_padding=”60px||30px||false|false” global_module=”79116″ saved_tabs=”all” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” _builder_version=”4.27.4″ _module_preset=”default” custom_padding=”0px||0px||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

The 2024 Australian bank AGM season is done and dusted, with one key takeaway: Big portions of the banks\u2019 shareholders, including many of Australia\u2019s top super funds, want to see the banks live up to their climate commitments and stop financing companies that plan to grow their fossil fuel production.<\/strong><\/p>\n

An average of more than a quarter of ANZ, NAB and Westpac shareholder votes went in favour of Market Forces\u2019 resolutions calling on the banks to exclude finance to fossil fuel companies that don\u2019t have Paris-aligned transition plans. This is hugely significant given the boards of all the banks recommended against these resolutions and 95%<\/a> of shareholder votes typically go in line with board recommendations.<\/p>\n

2025 is a big year for Australia\u2019s big four banks. ANZ, NAB and Westpac have all set policies which require their major fossil fuel clients to have climate transition plans in place by October this year. Theoretically, that means if a fossil fuel company cannot demonstrate on paper that it has a plan to scale down its emissions in line with the goals of the Paris Agreement they could be ineligible to receive financial support from Australia\u2019s largest lenders.<\/p>\n

But these policies still contain plenty of loopholes that could see the big four continue to pour money into climate wrecking companies even beyond the October \u2018deadline\u2019.<\/p>\n

We\u2019re putting pressure on the banks to fix these loopholes to ensure they don\u2019t give another cent to the world\u2019s climate wreckers, and we need your help!<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ module_id=”take-action” _builder_version=”4.27.4″ _module_preset=”default” background_color=”#f2f2f2″ custom_padding=”40px|40px|40px|40px|false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.23″ _module_preset=”default” header_2_font=”Inter|800|||||||” header_2_text_color=”#131313″ header_2_font_size=”36px” header_2_line_height=”1.17em” custom_margin=”0px||0px||true|false” custom_padding=”0px||0px||true|false” global_colors_info=”{}”]<\/p>\n

Take Action<\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=”4.23″ _module_preset=”default” header_text_align=”center” global_colors_info=”{}”]<\/p>\n

Tell ANZ, NAB and Westpac to close their fossil fuel finance gaps and end their support for climate wreckers once and for all!<\/p>\n

[\/et_pb_text][et_pb_code _builder_version=”4.27.4″ _module_preset=”default” custom_margin=”0px||0px||true|false” custom_padding=”0px||0px||true|false” global_colors_info=”{}”]