Three global banks are being paid to obscure who profits from 51 fossil fuel projects in Australia that produce 22m tonnes of carbon emissions each year, according to new analysis. View image in fullscreen Nominee companies are paid to be listed as shareholders on behalf of unnamed investors. Transparency International Australia’s chief executive, Clancy Moore, agreed nominee companies could “mask the true owners of corporate structures in Australia”. “If we had a public beneficial ownership register with teeth, nominee companies would be redundant,” McKim said. Nominee companies also provide other services to investors including transaction settlement, administration and financial reporting.