World Green Left (Australia)
ANZ rules out funding Beetaloo Basin gas pipeline after Rising Tide campaign
Rising Tide announced a significant win when ANZ ruled out funding the North to East Australia pipeline, which is critical for transporting gas from Beetaloo Basin. Alex Bainbridge reports.
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Climate activist group Rising Tide (RT) announced a significant win on November 9 after ANZ ruled out funding the North to East Australia (NEA) pipeline.
ANZ is the last of the big four banks in Australia to make such a commitment.
ANZ’s 2026 Annual Report, released on November 9, said: “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).”
Based on analysis from Market Forces, RT believes that it will be harder and more costly for the NEA pipeline to go ahead if it cannot get funding from any of the four big banks. The pipeline is critical for transporting gas from the Beetaloo Basin to market.
RT has been campaigning for five months to achieve this goal. It has organised more than 70 actions, many of them creative displays of opposition inside ANZ branches and corporate offices.
Parents and babies had a playgroup sit-in in a Magan-djin/Brisbane branch on October 29. Also in Magan-djin, radical marching band Riff Raff led two actions inside the bank. Police tried to issue move-on notices to activists on October 9 but found it difficult because the music was so loud.