Australian banks resist Trump-era climate retreat
Despite rising global political pressure — including from Trump’s anti-ESG movement — Australian banks are holding firm on net zero, but Scope 3 gaps remain.
Australia’s banks are sticking with their net zero commitments despite global political pushback, but remain well behind on disclosing financed emissions and planning for the full scope of their climate impact.
The country is among the leading nations in the transition to net zero carbon emissions when it comes to measuring Scope 1 and 2 emissions, but it lags significantly in Scope 3.
Despite political backlash in some jurisdictions — including under Donald Trump in the United States — Australian banks remain publicly committed to the energy transition and net zero. However, debate continues around the pace of progress and the transparency of their activities.
Gerbrand Haverkamp, executive director of the not-for-profit World Benchmarking Alliance (WBA), which focuses on corporate accountability and sustainability, said WBA data shows Australian companies are outperforming global averages in disclosing Scope 1 and 2 emissions.
