Norwegian sovereign wealth fund pulls $3 billion out of AGL, BHP and South32

The Norwegian government’s decision to tighten the Government Pension Fund Global’s (GPFG) coal exclusion criteria will see the world’s richest sovereign wealth fund withdraw a combined AU$3 billion from AGL, BHP and South32. The announcement comes at a particularly bad time for AGL, just days after the company’s share price … Read More

QBE’s unanswered questions

Bush fire in Queensland

11 June 2019 It’s not often that an annual general meeting (AGM) can be described as compelling. QBE’s AGM held on 9 May, however, delivered the goods with several questions from the floor resulting in extraordinary exchanges between shareholders and the chairman Marty Becker and CEO Pat Regan. Unfortunately, these … Read More

FAR not modelling climate transition risks to business

Senegal flag

Market Forces has named FAR as one of the 21 companies that investors should immediately divest from. Why? Because the company has had more than three years to show it can transition to be in line with the Paris Agreement. It has not only failed at this but is also … Read More

Sydney Airport: taking climate seriously after flooding events

Sydney Airport is at risk from climate change related flooding

24 May 2019 What a difference a year (and some runway flooding) makes! Sydney Airport’s chairman Trevor Gerber has certainly changed his tune on taking climate risk seriously since last year’s annual general meeting. Back then, Gerber didn’t think the risks of inundation from global sea level rises was much … Read More

Buru Energy’s own testing shows higher levels of chemical contaminants

Buru Energy, a West Australian-based exploration and production company, is planning to re-inject wastewater from fracking wells into the earth said chairman Eric Streitberg at today’s annual general meeting (AGM) in Perth. According to the Buru Energy WA fracking inquiry, the company has admitted that testing of flowback fluids from … Read More

Non, merci! Rothschild & Co. walks away from Adani

16 May 2019 In May 2018 it was revealed that French investment bank Rothschild and Co was helping Adani to sell a minority stake in the Abbot Point coal terminal on the North Queensland coast. The terminal would act as the port through which coal from the proposed Carmichael coal … Read More

Super funds obstructing climate action

In the last two weeks, the vast majority of Australia’s super funds have voted on your behalf: These votes have actively obstructed climate action at some of Australia’s biggest companies. It’s not good enough from super funds that are supposed to act in our best interests. Ask your super fund … Read More

Talanx leaves open loopholes to underwrite Vietnamese coal power

10 May 2019 German insurer Talanx announced last month it planned to stop underwriting new coal power plants and coal mines, and envisages that its portfolio would no longer include any coal-fired power plants or coal mines from 2038 onward. While this sounds good on paper, its policy has significant … Read More