Australia news live: big banks lend $43bn to fossil fuel companies; NSW to spend $130m on beds for homeless | Australia news
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Jessica O’Bryan
Homelessness advocate welcomes expansion of crisis accommodation in NSW
The Salvation Army leader, who has worked first-hand with homeless people, said the NSW government’s crisis adaptation announcement responded to a system that was “under tremendous pressure”. Currently, one in two people urgently seeking safe shelter are turned away.
New South Wales/ACT Salvation Army Division Commander Major Robyn BlackHe said the charity was seeing people experience homelessness “like they’ve never seen before”.
“People who used to volunteer at Salvos are now finding themselves homeless, the working poor, people who still have a job in Sydney and can’t afford the rent. We’ve got working homeless people,” Black told Guardian Australia.
Black described the $130 million in funding and an additional 200 crisis accommodation beds announced by the NSW government today as a “tangible and compassionate” response to homelessness.
“I think this is a great step in the right direction. There are other factors at play as well.” [like] domestic violence and domestic violence, there is a serious crisis in rent affordability, there is the rising cost of living. “But at least it gives people a chance to keep a roof over their heads.”
Minns government invests $130 million to expand crisis response
Jessica O’Bryan
The NSW government today announced a $130 million investment to add at least 200 crisis accommodation beds across the state for those in critical need of safe shelter.
Crisis adaptation facilities will be expanded and improved to increase capacity and provide better support for people experiencing homelessness, including victims of domestic and family violence, young people and Aboriginal communities. The first of the additional 200 beds is expected to be available starting next year.
The plan goes like this Homelessness continued to rise every year under Minns governmentThere has been a 35% increase in the number of people sleeping rough in the state since 2023, according to the last three NSW Street Counts.
Minister Responsible for Housing and Homelessness, Rose JacksonHe said the plan was to “make sure that when someone reaches out for help, a door is open, a bed is ready, and they have the support they need to get back on their feet.”
Premier of NSW, Chris MinnsHe said: “Whether it’s a mother and her children fleeing domestic violence or a teenager forced to spend the night on the street, this scheme will deliver safer and more secure beds. Each new bed means fewer people losing sleep.”
Big four banks dumped $43bn into fossil fuels over decade, analysis claims
Luca Ittimani
Australia’s four largest banks provided $43 billion to fossil fuel companies Over the last decade ANZ and Westpac have continued to fund further gas expansion.
Expansion of coal, oil and gas projects accounted for $30 billion of the financing, according to analysis by . green advocacy group Market Forces He was released nearly 10 years after the signing of the Paris agreement.
According to Market Force’s report, every bank has approved the deal and CBA has reduced fossil fuel financing since changing its policies in 2024; NAB has also stated that it will do the same.
ANZ has provided the most fossil fuel financing among the big four, providing over $10 billion from 2016 to 2021 and over $5.7 billion since 2022. Westpac has become the second-largest fund, lending $3.8 billion to companies such as Woodside and BP since 2022.
The report concluded that the two banks’ policies amounted to “little more than window dressing and greening”. The big four would be breaking their own promises if they offered more financing to any of the 23 active customers with “egregious” fossil fuel expansion plans that are incompatible with the Paris agreement, the report said.
kyle robertsonMarket Forces head of research says ANZ and Westpac could still stop enabling the industry:
“Australia’s biggest banks have given fossil fuel customers long enough to prepare. If they still aren’t switching, it’s time to turn off the money tap once and for all.”
An ANZ spokesman said the bank was a key lender to the energy sector and was aiming to move towards a loan portfolio that took into account net zero emissions in line with the Paris agreement. Westpac has been contacted for comment.
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Good morning and welcome to our live news blog. I Martin Farrer with the best night stories and then Nick Visser will take up the slack.
Australia’s big four banks have provided $43 billion to fossil fuel companies over the past decade; ANZ and Westpac continue to fund further gas expansion. A study by green advocacy group Market Forces showed that expansion of coal, oil and gas projects accounted for $30 billion of the funding. More details in a moment.
The NSW government will spend $130 million to add at least 200 crisis accommodation beds across the state for those in critical need of safe shelter. The Salvation Army said the move was a response to a system “under tremendous pressure”. More details are coming.
