ANZ has issued a clarification regarding comments made during its Annual General Meeting (AGM) concerning a resolution on Climate Risk Safeguarding. The resolution, proposed by Market Forces on behalf of a group of shareholders, was discussed at the meeting.
The bank acknowledged that the resolution did not call for an immediate halt to financing companies with any fossil fuel exposure. Instead, it focused specifically on new or expanded fossil fuel projects.
ANZ had included the full text of the resolution and a supporting statement from Market Forces in its Notice of Meeting. Additionally, a representative from Market Forces was invited to address the AGM to provide further clarity on their position.
ANZ stated that any mischaracterization of the resolution during the meeting was unintentional.