ANZ today clarified its characterisation at yesterday's Annual General Meeting (AGM) of commentary relating to a contingent resolution on Climate Risk Safeguarding that was proposed by Market Forces on behalf of a group of shareholders.
ANZ acknowledges the resolution did not seek an immediate withdrawal of financing for companies that continue to have any exposure to fossil fuels. It accepts the proposed resolution was confined to new or expanded fossil fuel projects.
ANZ outlined the resolution in full in its Notice of Meeting along with the supporting statement from Market Forces. A representative from Market Forces was also invited to address the meeting to clarify its position.
Any mischaracterisation by ANZ was unintentional.
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