After 5 months of campaigning from Rising Tide, ANZ have today ruled out funding the North to East Australia (NEA) pipeline, creating a major roadblock to the large-scale fracking of the Beetaloo Basin which would emit the equivalent of 1.2 billion tonnes of carbon.

ANZ is the last of the four major banks to rule out funding the project.

In their 2026 Annual Report released today, ANZ announced: “We will not directly finance new or expansion upstream oil and gas projects … or new midstream infrastructure dedicated solely to new upstream oil and gas projects (such as new transmission pipelines)” (p.111).

Photos and videos of Rising Tide’s actions can be found here.

Rising Tide spokesperson Nick Willis, said: “Over the last five months, we have accomplished over 70 actions across the nation, calling upon ANZ to rule out the NEA pipeline.

“We have seen disco dinosaurs, giant poo emojis and even a marching band! Whilst we have used humour in our actions, there is a serious side. The funding of this massive gas pipeline is a serious threat to our climate and futures. ” he said.

“We are a community of ordinary Australians that is growing by the day. We know that people power can stop destructive fracking in the Beetaloo Basin. Our planet can’t support new fossil fuel projects like the Beetaloo Basin. Australians will continue to take action to shut down Beetaloo and protect our future."

Allison Arnott, a 63 year old small business owner said: “I had never participated in any kind of action until now. I made the decision to take action, because if ANZ funds the North to East Australia pipeline, it would be disastrous. I realised that the only way to stop them was through people power.

“It would unlock catastrophic fracking in the Beetaloo Basin and have devastating impacts on our climate and the cultural heritage and Country for traditional owners of the region.

“Right now, Australian communities are staring down the barrel of an unprecedented El Niño and a horrific summer of climate impacts, from drought to heatwaves and bushfires," she said.

“Every other bank has ruled it out, so I don’t think we are asking too much.”

Anonymous ANZ source:

“I don't agree with ANZ's ongoing commitment to funding fossil fuels. When I learned that there might be a way that I could help change this, I took it. It has been scary to speak up, but the climate crisis is scarier.

“In a company this size, our leadership team holds all of the power. There is no avenue for me as an employee to help change the company’s direction.

“By sharing what I know, I thought this might be a way I could help.”

Please contact us if you would like to verify the anonymous ANZ source.

For more information: https://www.marketforces.org.au/news/media-releases/ 

Background:

Actions

• Rising Tide have organised over 70 actions, over five months, across four states.
• Targeting branches and offices, with seven actions in ANZ’s head office in Melbourn
• 14 arrests (all in Brisbane):
  • 14 protestors were arrested across three separate actions in response to Helge Muenkel, Group General Manager Climate and Nature, refusing to have a conversation about the upcoming policy changes.
  • Helge was emailed a week before the most recent arrest, asking him to block out his calendar between 12-2 on that day as “somewhere in Australia at this time”.

CEO Nuno Matos

• Rising Tide protestors interrupted CEO Nuno Matos at two speaking events:
  • AFR Asia Summit
  • “In conversation with”  at the Australia-Israel Chamber of Commerce. Event here

Private event

• Protestors interrupted a private event in Melbourne announcing to ANZ’s Private clients (valued at over $3m each) that ANZ refuses to rule out NEAP. 

Institutional Clients

• Emailed 60 Institutional clients, to inform them that ANZ is Australia’s number one funder of fossil fuels, and their loan repayments could be financing this agenda.

• Visited 26 Institutional clients, across four cities.

Staff engagement + intel

• Staff were invited to share information, via a short survey.

• This invitation was extended via a flyer handed out at every action, to just over 100 staff via direct messages on LinkedIn, and also to just over 1,200 staff via a direct email to their workplace.

• ANZ staff did come forward with information. 19 staff filled out the survey.

• Survey results:

  • 95% agreed that ANZ should rule out funding NEAP
  • 5% agnostic
  • 68% Support Rising Tide’s protests even if it inconveniences them
  • 21% Support Rising Tide’s protests provided they are not inconvenienced
  • 10% did not support Rising Tide’s protest