Major Australian banks are being accused of "greenwashing" after a report showed they have injected more than $43 billion into fossil fuel projects since endorsing the Paris Agreement.

Fresh research from climate group Market Forces revealed ANZ and Westpac were the largest lenders to major fossil fuel companies throughout 2024 and 2025.

The banks accounted for more than 80 per cent of lending over almost two years.

Commonwealth Bank of Australia, the nation’s largest company, was applauded for flipping from “worst to first” after being the largest lender in 2020.

The bank constituted just six per cent of lending to fossil fuel companies in the 2022-2025 period while its oil and gas lending sank 75 per cent over the last three years.

NAB’s lending to fossil fuel companies has fallen f

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