ANZ Pulls Out of Petroleum Conference

After mounting pressure last year, ANZ bank will not be supporting this year's New Zealand Oil Conference.

At the end of this month, global oil industry leaders and experts will meet in Auckland, discussing the future of a fuel that directly contributes to climate change.However, their support is dwindling. ANZ bank, which sponsored the event for the last several years, is no longer involved.

"ANZ's absence from this conference is proof that 350's actions forced their hand," said 350 Aotearoa spokesperson, Sandy Hildebrandt. "Our targeted campaign last year had the intended effect."

Last year, 350 Aotearoa staged protests at ANZ branches around New Zealand, releasing balloons (“carbon bubbles”), unravelling banners inside, and protesting outside the banks.They also launched a petition and open letter to the bank, demanding them to pull sponsorship from the event.

"Fossil fuels are becoming less and less culturally acceptable," Hildebrandt said. "Social pressure is increasing and businesses are being forced to respond to the reality that oil, gas and coal are neither ethical nor good investments."

Hildebrandt added, "We’re delighted to have forced ANZ to change their PR spin, and now challenge them to take real action and withdraw their $13.5 billion in investments in fossil fuels.”

"It's time for ANZ to join the other institutions that have withdrawn a total of $3.5 trillion in investments from fossil fuel extraction."

Ends.

© Scoop Media