15 November 2019: NAB’s Sustainability Report, released today, is little more than greenwash and a recipe for climate catastrophe, says environmental finance group Market Forces. In particular, its central announcement to exit thermal coal mining by 2035 is a clear example of too little too late, falling short of time … Read More
Choked by Coal: the Carbon Catastrophe in Bangladesh
New analysis shows China, UK and Japan driving 63-fold coal power expansion in Bangladesh Media Release: 6 November 2019 Massive coal-based power expansion in Bangladesh is set to propel it into the ranks of the world’s worst polluters, says a major new report out today. The expansion not only threatens … Read More
Bendigo Bank fails to back Paris Agreement for second year running
29 October 2019 Bendigo and Adelaide Bank enjoys a lot of kudos for being one of Australia’s medium-sized banks that doesn’t invest in fossil fuels. Thousands of Australians have moved to Bendigo Bank as a result of its position on our banks comparison table. But at the bank’s annual general … Read More
Engineers, coal haulage, finance & insurance: Stop Adani campaign update, October 2019
20 October 2019 After another week of news and protest over rail haulers and contracts for the Carmichael rail line, who is on track in the campaign to #stopadani? The working week ended with what looked, at first glance, like a blow to the campaign to prevent Adani’s destructive Carmichael … Read More
Getting out of coal can’t save CommBank scrutiny at its AGM
16 October 2019 In August, Commonwealth Bank took a major step forward when it committed to get out of thermal coal by 2030, a commitment that no other major bank has so far made. Today, shareholders showed their appreciation for this commitment, but quickly moved to hold the bank to … Read More
NAB, ANZ and Westpac hit with climate risk shareholder resolutions
10 October 2019 Market Forces has lodged shareholder resolutions with NAB, ANZ and Westpac, calling on the three major banks to reduce their exposure to coal, oil and gas in line with the climate goals of the Paris Agreement. The resolutions come after the major banks have continued to lend … Read More
Media Release: Three major banks face shareholder resolutions on climate action
Westpac, NAB and ANZ called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 10 October 2019 Environmental finance organisation Market Forces is today lodging shareholder resolutions with Westpac, NAB and ANZ today. The resolutions call for a reduction in lending and … Read More
Media release: AXIS Capital withdraws from Adani rail line insurance deal
3 October 2019 In a further blow to Adani, US-based insurer AXIS Capital has withdrawn from a bid to insure the construction of the Carmichael rail line. AXIS’ move makes it the 15th major insurer and 58th company to refuse to support the construction of Adani’s coal mine and railway … Read More
Suncorp faces heat at its AGM as losses mount on climate impacts
Brisbane, 26 September 2019 The climate crisis dominated Suncorp’s annual general meeting in Brisbane today, from the Chairman and CEO reporting losses from extreme weather events, shareholders bringing personal stories of how climate impacts are destroying their lives, right the way through to the last item of business – a … Read More
Media release: Investors heap pressure on AGL
Thursday 19 September 2019 At today’s AGM in Sydney, over 30% of shareholders, worth more than AU$3.8bn, voted against management and in support of a resolution calling on the company to reduce emissions in line with the goals of the Paris Climate Agreement. Response from Will van de Pol, Market … Read More