Karoon Gas: Reducing our emissions would be a pointless gesture

Karoon Gas held its AGM in Melbourne yesterday, and confirmed it’s business as usual for the oil and gas explorer, despite its stated support for the Paris Agreement to limit global warming to 2°C above pre-industrial temperatures. The company’s responses to shareholder questions around climate risk, potentially stranded assets and its … Read More

Stanmore Coal: Failing to plan or planning to fail?

Stanmore Coal owns and operates nine coal mining projects in Queensland, including open cut and underground mines, as well as a number of projects in development. Like most pure play fossil fuel companies, Stanmore is in denial about the future of coal in the wake of the Paris Agreement. If the … Read More

IOOF deflect on climate risk

How to Switch Banks and Make it Count

IOOF is an investment management and financial services company listed in the ASX 100, administering over $130 billion on behalf of its clients. The company offers retail superannuation products, which currently boast almost half a million members. Despite very limited disclosure of portfolio holdings, we know IOOF invests its members’ retirement savings … Read More

New Hope Group: bravely struggling against reality

Queensland coal miner New Hope Group owns the New Acland, West Moreton and Bengalla coal mines. As a pure-play coal miner that’s currently trying to expand its Acland operations, New Hope’s current business model is completely out of step with global efforts to curb carbon emissions to reign in dangerous … Read More

BHP’s Minerals Council membership touches a nerve

With operations in over 25 countries, BHP Billiton is one of the world’s largest mining companies. Two years ago the company was rated one of the top twenty most carbon polluting companies. The mining giant has also been involved in several environmental disasters such as the Ok Tedi mine disaster … Read More

AWE & Senex Energy: in deep denial

Shareholders of AWE Ltd and Senex Energy Ltd gathered for their Annual General Meetings today, in Sydney and Brisbane respectively. While it’s a coincidence that their AGMs were held on the same day, there are a number of similarities between the two companies. Both are mid-cap upstream oil and gas … Read More

Wesfarmers: not ‘evolving’ quickly enough

Best known as the parent company of Coles, K-mart, Target, Bunnings and Officeworks, Wesfarmers also owns two open cut coal mines: Curragh in Queensland (100% owned by Wesfarmers) and Bengalla in New South Wales (40% stake). Shareholders attending the Wesfarmers annual general meeting (AGM) asked why the company was persisting with these dud, … Read More

Beach Energy, unconventional and unsafe

Beach Energy held its annual general meeting (AGM) in Adelaide today, where local campaigners for the protection of agricultural land questioned the efficacy of Beach Energy’s unconventional gas exploration in the Otway Basin. Beach Energy is Australia’s largest onshore oil producer, most active in the Cooper and Eromanga basins in … Read More

Pressure forces Medibank to consider divestment

Shareholders and health professionals flooded Medibank with question about their fossil fuel investments and preparedness for climate change at their annual general meeting (AGM) on Wednesday in Melbourne, prompting the Chairwoman to commit to considering divesting the company from coal, oil and gas. Medibank understands the importance of divestment from … Read More