Media Release: Australians reject super funds’ trillion-dollar secret

Melbourne, Friday 23 September, 2016: According to analysis by environmental finance campaigners Market Forces, 83% of assets under management in Australia’s fifty largest superannuation funds are undisclosed, equating to nearly $1 trillion of assets. The analysis comes as new polling commissioned by Market Forces reveals 86% of Australians believe they … Read More

Suncorp understands the importance of 2ºC, fails to commit to it.

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Creator of the award-winning Skeptical Science website John Cook and Associate Professor Kristen Lyons were among the shareholders attending the Suncorp AGM today in Brisbane, trying to find out why a company that is losing billions of dollars in climate change related damage is not doing anything about it. Suncorp is one of … Read More

Fossil fuel assets taking huge hits

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Share this Post With the bulk of company reports for the 2015/16 financial year having been delivered, it is clear the fossil fuel sector has taken some substantial financial hits recently. Write-downs on fossil fuel assets and increased provisioning for dodgy debts to the sector have combined to paint a … Read More

Poll reveals high expectations for banks to avoid fossil fuels

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Share this Post A new survey has shown strong support, especially among customers of the major banks, for action to avoid financing fossil fuel projects that damage the environment and worsen climate change. The poll, conducted by Essential Research for Market Forces, asked over 1,000 Australians about their attitudes towards their bank’s … Read More

Civil society to banks: get off fossil fuels!

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Over 100 civil society organisations and prominent Australians have signed an open letter, published today, that calls on Australia’s major banks to live up to their climate change commitments. The letter, signed by environmental and faith-based groups, unions, artists, writers, academics, health professionals, climate change scientists and some of Australia’s … Read More

Australian banks help release another 3 billion tonnes of carbon emissions

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Since late 2015, when Australia’s major banks committed to support the goal of holding global warming to below two degrees, they have contributed to deals for new fossil fuel projects capable of adding 3 billion tonnes of CO2 to the atmosphere. A new report from the Stockholm Environment Institute has concluded that the … Read More

IAG Commits To 2 Degrees

Musselroe Wind Farm - Credit Bob Burton

Insurance Australia Group (IAG) today became the first Australian insurance company to commit to the 2015 Paris Agreement to limit global average temperature rise to two degrees. You’d think insurance companies would have been the first institutions to acknowledge and support actions to address climate change, given their inherent understanding … Read More

Ten dodgy fossil fuel deals hurting the banks

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Share this story The demise of the fossil fuel industry just got real for Australia’s big banks. Having provided the debt that fueled the last big fossil fuel boom, the likes of ANZ, CommBank, NAB and Westpac now find themselves exposed to projects that are both environmentally and financially toxic, … Read More