Australia’s big four banks face shareholder ire over funding fossil fuels

Activist group Market Forces says continued funding of coal, oil and gas is incompatible with net zero commitments

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Executives at Australia's big four banks will face anger over funding fossil fuels this annual meeting season, with shareholder activists renewing efforts to force them to account for investments that increase global heating.

At their annual meeting on Wednesday, shareholders at Australia's biggest bank, the Commonwealth, will consider a resolution lodged by activist group Market Forces that was aimed at stopping it from financing new fossil fuel projects or the expansion of existing ones.

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