On the 24th of July, community members of all ages, including scientists, nurses, teachers and shareholders, rallied outside Macquarie Group’s 2025 annual general meeting (AGM) in Sydney.
People of all walks of life are calling on Macquarie to end its support for gas expansion, including harmful fracking of the Beetaloo Basin in the Northern Territory.
Cathy Gill is a retired school teacher who is making a stand with Knitting Nannas and Friends, who want Macquarie to meet its climate commitments.
“I want Macquarie to divest. I don’t want to see it funding fracking," Cathy says.
"I’ve been to the Territory and I’ve stood with the people up there against fracking in the Beetaloo. Water is just so precious in the NT and it’s not being accounted for.”
Cathy is horrified about the dangers of fracking gas. “The fracking companies are being exposed for spraying polluted water on the ground. It goes into the water table.
"It’s just such a toxic industry. And it really is galling that it is always on First Nations country. They take every avenue they can but they have their voices overruled.”
Drummer John Kelly plays with Drum Rebellion and wants Macquarie to face the music over its funding of fossil fuels.
“It’s not very clear what Macquarie is doing, to the average person… it astounded me finding out what Macquarie is up to as far as [supporting] fracking worldwide”
“Stop fracking! …do you have no shame, no consideration?”
Meanwhile, inside the AGM, Macquarie suffered a significant reprimand from investors, when the first ever climate-focused resolution received a 35% vote in favour, calling on the institution to align its financing with its climate commitments.
This was also the largest ever vote in favour of a climate resolution at an Australian bank and it received support from some of the world’s biggest investors including New York Pension Systems and Norway’s largest private pension fund KLP.
Kyle Robertson is Head of Research at Market Forces and he says history shows pressure can be placed on Macquarie to meet its climate commitments.
“We can push the banks to fund the solutions to climate change, and not the causes of it.
“Today is step one to getting Macquarie to do better, and we will not stop until Macquarie lives up to its climate commitments.”
Deanna Hayes is a mother, and in addition to her work as a nurse, helps community groups Rising Tide and Parents for Climate.
Deanna's motivation for attending and speaking at the rally is love, "for our children and families, for thriving cultures and communities, for the natural world and all species in it".
“As a mother, I see a safe future for my children getting further and further out of reach.”
“As a health professional, I understand the health impacts of climate change. I understand that heat is the biggest killer of any natural disaster in Australia.
"Heat waves are becoming more frequent with climate change, so the threat of more deaths is real.”
“As a nature lover, I know what fracking does to the environment. Just with the method of extraction it poses enormous risk to ecosystems and local communities.
"Hazardous chemicals are needed to extract the gas, all of which pose health risks to workers and local people. The methane continuously leaks around gas wells and pipelines, contributing even further.”
“The burning of the fossil gas that could come out of Beetaloo is not compatible with reducing our fossil fuel emissions.
"We do not need any new gas fields in Australia, and Macquarie Bank should not be financing any new projects, including Beetaloo.”
Morgan Pickett is a Policy Analyst at Market Forces and has been leading campaigns for Australia’s banks to end finance for new coal, oil and gas in line with their commitments to the global goals of the Paris Agreement.
“Macquarie plays a role unlike many other banks. Macquarie is actively funding and investing in companies developing what could become Australia’s biggest gas fracking development, the Beetaloo basin in the Northern Territory”.
“Macquarie can’t claim to support the Paris Agreement and Net Zero by 2050 when it is a major backer of the Beetaloo abomination. This hypocrisy has to end.”
“Macquarie must cut ties with these climate-wrecking companies and make good on its commitments.”
Patrick Harte has been backing the work of Knitting Nannas and Friends and speaking out about the dangers of fracking as well as oil and gas expansion for many years.
“We started off with AGL at North Sydney about 10 years ago. After AGL we moved on to Santos with their plans for the Pilliga. And Beetaloo is the next big problem.”
Patrick says he felt compelled to attend the action calling for Macquarie to fix its act on climate change.
“It seems obvious. We’ve got to do what we can while we’re here. Macquarie - don’t fund any fossil fuels. Be responsible.”
19-year-old youth climate campaigner Owen also works with the sustainable investment exchange SIX, and he says Macquarie is not listening to the voices of the people.
“The people who are saying enough is enough, we are sick and tired of the greenwashing, we are sick and tired of the climate destruction.”
“Listen to the pleas of young people who are begging politicians, companies, banks, to end this fossil fuel destruction and transition our economy to a greener, cleaner future.”
“What I ask is show up, join the fight, join the campaigns Market Forces is putting forward, that the climate movement is putting forward, because young people need you here with us."
“First Nations people need you here with us. People on the front lines of the climate crisis.
"People facing climate destruction in the global south, bushfire survivors, people facing floods, people all across the country and all across the globe need us here to send a very clear message to Macquarie Bank: stop funding new fossil fuels.”
Vanessa Wright is an illustrator and painter. Vanessa is standing in solidarity with First Nations justice and to voice "huge concerns about the continued support of fossil fuels by banking institutions and the Government."
"Right now, we are witnessing not just the deterioration, but the collapse of ecosystems around the world due to climate change.
"The natural world is not an infinite resource, it's precious and essential to our survival," Vanessa says.
"We must put an end to the relentless destruction of our environment and fundamentally shift how we value our economy. It should serve nature and the wellbeing of all, not just make a select few wealthier."
Steve Bruce believes he has a duty to fight to end new coal and gas in this country.
“That’s what I’ve been doing for a lot of years now. I stood for the Greens in the federal election. Climate is a defining issue for this generation and every future generation.”
Cathy, John, Deanna, Owen, Vanessa, and Steve are among thousands of people calling on Macquarie to end its support for fracking.
Over 10,000 people signed an open letter to Macquarie, and you can join them.
You can read the analysis of Market Forces’ success at the Macquarie’s 2025 annual general meeting and take action by sending a message to Macquarie to end backing for gas fracking.
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