Investors give QBE a free pass despite hypocrisy on climate

Market Forces QBE Action Sydney 2018

6 May 2022 A shareholder resolution calling on QBE to align its oil and gas underwriting and investment with the goals of the Paris Agreement achieved 19.8% support at QBE Insurance’s AGM yesterday. As has been the case for several years now, the AGM was dominated by questions regarding QBE’s … Read More

QBE supports Paris and net zero with words, undermines them with actions

For immediate release: 18 February 2022 QBE’s willingness to underwrite new oil and gas projects will see it once again face a shareholder resolution, coordinated by Market Forces and co-filed with Australian Ethical, an investor managing over $6.5 billion as of September 2021. The resolution calls on QBE to align … Read More

Will GLAS shatter its reputation on Adani’s coal port?

In November 2021, after a short and sharp public backlash, the Bank of New York Mellon (BNYM) became the 104th company to cut ties with Adani’s disastrous Carmichael coal project. For many years, BNYM was playing a specialised role as the security trustee for the debt linked to Adani’s coal … Read More

Coal port operator Adani Ports no longer part of UN’s Race to Zero

19 January 2022 Back in December, Market Forces drew attention to the fact that Adani Ports and Special Economic Zone’s (Adani Ports) removal from the Business Ambition for 1.5C campaign run by the Science Based Targets Initiative (SBTi) should also see it removed from the UN’s Race to Zero campaign.  … Read More

Adani Ports kicked off MSCI indices due to Carmichael coal link

26 November 2021 Finance research and ratings company MSCI wrote to its clients on Tuesday informing them that Adani Ports and Special Economic Zone (Adani Ports, also referred to as APSEZ) is about to be kicked off four MSCI climate indices, after its links to the Carmichael thermal coal project … Read More