Words vs. actions: Adani pursuing more new thermal coal projects

Crowd with 'don't fund Adani coal' banner

08 September 2022 “Today climate change is one of the biggest challenges. Those challenges also open up huge business opportunities. The opportunity in this case is energy transition, the transition from fossil fuels to renewables and to hydrogen.” (Gautam Adani, quoted in Fortune India, June 2022) It’s statements like the … Read More

Lockton rejects Adani’s Carmichael coal mine

26 August 2022 Adani continues to face difficulties managing insurance coverage for its climate-wrecking Carmichael thermal coal project. Would-be insurance broker Lockton has revealed to Market Forces that it never signed the letter of appointment it was sent by Adani Australia, and that it will never work for the Carmichael … Read More

World’s largest insurance broker cuts ties with Adani Carmichael coal mine

23 June 2022, for immediate release The Adani Carmichael coal mine’s long-standing insurance broker, Marsh, has confirmed it has ended its commercial relationship. This news, published in InsuranceERM, comes two weeks after the #StopAdani campaign received an anonymous, insider tip-off that on 29 May 2022, Lockton was appointed to be … Read More

Revealed: QBE insuring new coal plant construction in Vietnam

Market Forces QBE Action Sydney 2018

9 June 2022 A briefing released today by the international Insure Our Future campaign and Korea-based Solutions For Our Climate reveals that Australian insurer QBE is providing insurance for the construction of the Nghi Son 2 coal-burning power station in Vietnam, and the Cebu coal-burning power station in The Philippines. … Read More

Wangan and Jagalingou people call on GLAS to cut Adani coal ties

31 May 2022 Wangan and Jagalingou (W&J) Traditional Owners have released a video calling on UK-based debt administration services company GLAS Agency to do no further work for Adani in Australia. In the video, W&J Cultural Custodian Coedie McAvoy, who has been continuously occupying the Adani Carmichael coal mine site … Read More

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