Media release: Westpac quits thermal coal by 2030

Monday 4 May, 2020: Westpac’s Climate Change Action Plan Update, released today, has been described as another nail in the coffin of thermal coal, by environment finance group, Market Forces. The policy commits the bank to being out of thermal coal mining by 2030, while the emissions-intensity target set for … Read More

Responding to COVID-19

16 March 2020 Market Forces, like the rest of the world, is changing the way we operate in order to help limit the spread of COVID-19. We are trying to stay ahead of government and health authority directives and are taking steps that do this while allowing our advocacy work, … Read More

Adani looking for Abbot Point investors

12 March 2020 Adani is asking investors to back the Abbot Point coal export terminal for the next seven years through a new bond. With take-or-pay contract protection now largely expired, whoever invests is placing a massive bet about the Carmichael coal project going ahead, but some key aspects of … Read More

Siemens chooses Adani over a safe climate

Siemens has turned its back on the tens of thousands of people who have implored the company to walk away from the Adani Carmichael coal export project. In a statement, Siemens CEO Joe Kaeser restated his company’s support for the Adani Carmichael project, a mine that would open up a … Read More

Media release: Siemens decides to work on Adani Carmichael coal project

Responding to the news that Siemens has decided to continue working on the Adani Carmichael coal export project, Market Forces Executive Director Julien Vincent said: “Siemens’ appalling decision to keep working on Adani’s climate-wrecking coal mine shows its indifference to the horrendous climate change impacts being faced by Australia and the rest … Read More

Siemens reconsidering Adani contract!

After a massive public outcry to Adani awarding Siemens the contract to conduct signalling on the Carmichael rail line, Siemens’ boss Joe Kaeser has said he would review the agreement. We’re close to Siemens making a decision on whether or not to walk away from Adani’s climate-wrecking Carmichael coal project. … Read More

Shareholders fire a shot across NAB’s bow over climate failure

18 December 2019 After record levels of shareholder support for climate risk management resolutions at ANZ and Westpac, it was NAB’s turn today to face the music over its failure to adequately manage climate risk. Since the Paris Agreement was signed in 2015, NAB has continued to lend heavily to … Read More

ANZ grilled on climate inaction and secret coal plan

17 December 2019 Coal lending was on the agenda two weeks before ANZ’s annual shareholder meeting in Brisbane today, as revelations hit the news that ANZ had a secret plan to slash its thermal coal mining loans by 75% (representing more than $700 million) by 2024. The secrecy of the … Read More