Bank gets the message

Supporters of climate activism group 350 Dunedin, who marched to an ANZ branch yesterday to deliver a recent climate change report and protest the bank's investment in the fossil fuel industry. Photo: Christine O'Connor
Supporters of climate activism group 350 Dunedin, who marched to an ANZ branch yesterday to deliver a recent climate change report and protest the bank's investment in the fossil fuel industry. Photo: Christine O'Connor
A group of activists delivered a climate change report to a bank in Dunedin yesterday to protest its continued investment in fossil fuels.

Climate activism group 350 Dunedin undertook the protest against ANZ in response to an Intergovernmental Panel of Climate Change (IPCC) report released last month.

The report outlined what its authors called the ''far-reaching and unprecedented changes in all aspects of society'' required to limit global warming to 1.5degC, along with the wide-reaching benefits of doing so compared with allowing a rise of 2degC.

Activists targeted ANZ because research from Australian environmental non-profit Market Forces found it had loaned more than $7billion to the coal, oil and gas sectors, the most of the big four banks.

Local 350 Dunedin supporter Liz Palmer was one of about 15 activists who gathered in the Octagon yesterday before marching to a George St ANZ branch to deliver a copy of the report.

''We're delivering the IPCC report, just in case they haven't got it, which states we've got about 10 years to make some really fast changes away from fossil fuels,'' Ms Palmer said.

An ANZ spokesman defended the bank's commitment to the transition to a low-carbon economy, saying it shared the activists' ambition for a low-carbon future.

ANZ had been cutting lending to the oil, coal and gas sectors and did not directly finance oil or gas exploration, he said.

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