ClimateTicker

Macquarie Group

ASX: MQG40Mixed / Improving· Provisional
0 followersAsset management / infrastructure·Sydney, Australia·Founded 1969
www.macquarie.com

Global asset manager and major infrastructure investor; one of the world's largest green energy investors.

40/100
Mixed / Improving· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: highData confidence: high

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Why it's on ClimateTicker

Macquarie is a genuine heavyweight in green energy finance, supporting 90+ GW of renewable projects globally and operating a dedicated Green Investments division, making it a legitimate climate-enabler on one side of the ledger. However, a material and worsening contradiction exists: the Group has simultaneously ramped up fossil fuel lending by over 143% in two years, exited the UN Net-Zero Banking Alliance, backed major new gas fracking projects, and has no policy requiring fossil fuel clients to have transition plans — directly undermining its green brand. Investors should treat Macquarie as a mixed-book operator, not a pure-play climate financier.

enablerMacquarie earns fees and returns as a diversified financial group through asset management, infrastructure investment, banking, commodities trading, and advisory services; green energy infrastructure is a major but not exclusive component of its investment portfolio.

Commitments & Certifications

CDP: Annual signatory / score not publicly confirmed for FY24 ↗other: RE100 member — 100% renewable electricity for operations ↗other: TCFD Supporter since 2019 ↗other: Net Zero Asset Managers initiative — MAM signatory ↗

Controversy & Greenwashing Watch

highBeetaloo Basin fracking finance

Macquarie is a key financial backer of Beetaloo Basin fracking companies (including Beetaloo Energy and Tamboran Resources) that have no climate transition plans; the basin's projected lifetime emissions exceed 1 billion tonnes CO2e.source ↗

mediumRecord 35.2% shareholder climate resolution vote at 2025 AGM

Over 180 shareholders filed a resolution requesting disclosure of Macquarie's fossil fuel exposures and transition plan assessments; the 35.2% vote in favour was the highest climate resolution vote at any Australian bank.source ↗

highOil and gas lending surge — 143% increase over two years

Macquarie's finance for oil and gas more than doubled over FY23–FY25 while Australian peer banks were reducing fossil fuel exposure, drawing shareholder and regulator scrutiny.source ↗

highExit from UN Net-Zero Banking Alliance

Macquarie departed the NZBA in early 2025, following major US banks post-Trump re-election, undermining its stated commitment to aligning its financing with a 1.5°C pathway.source ↗

mediumReversal of metallurgical coal exclusion policy

Macquarie walked back its prior exclusion on financing metallurgical coal expansion, moving against the direction of its three major Australian bank peers.source ↗

mediumASIC litigation for alleged misleading short-selling conduct

ASIC is suing Macquarie for allegedly misreporting millions of short-selling transactions to the market operator over 14 years, a separate but material governance concern.source ↗

highFossil fuel exposure understatement via off-balance-sheet loophole

IEEFA found Macquarie's disclosed on-balance-sheet oil and gas exposure of ~A$1.2 billion materially understates total group exposure of A$4.9–7.7 billion by excluding off-balance-sheet MAM fund investments, exploiting an NZBA reporting gap.source ↗

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