ANZ Banking Group
(ASX:ANZ) will be targeted by advocacy group Greenpeace because of its role in funding the coal industry and coal-fired power stations.
According to the Australian Broadcasting Corporation, Greenpeace will today announce ANZ as its protest priority as part of an international campaign.
ANZ remains a Greenpeace target despite last month being named as the most sustainable bank globally by the Dow Jones Sustainability Index.
Greenpeace says in the ABC report that ANZ is the biggest backer of Australia's carbon polluting coal industry, financing nearly $1.7 billion worth of mines, ports and power stations in the last five years.
Greenpeace adds that despite ANZ winning awards for sustainability and having a policy to go carbon neutral, the bank’s policies and rhetoric are completely at odds with their practice.
ANZ responded with a statement to the ABC claiming that it is Australia’s leading renewable energy financier and is beginning to see a shift in its portfolio from coal to alternative sources.
In the six months to 31 March this year, ANZ Banking Group booked a $1.93 billion net profit.
