IAG: We Need Climate Leadership

22 October 2015 It dawned on me yesterday at the Insurance Australia Group AGM, just how detached corporate Australia is from reality, when the IAG board became genuinely annoyed by questions related to climate change. If the board of an insurance company does not believe climate change is impacting on its … Read More

How to mismanage climate risk until it hurts

This article first appeared on Renew Economy on 19 October 2015 There’s an old saying that what counts is what gets counted, there’s a less well-known adage that says, what doesn’t get counted can cost you a fortune. The Australian insurance industry is finding out all about that one now because … Read More

Fossil fuel lending in 2015 – The story so far

1 October 2015 As the banks’ AGMs rapidly approach, we thought it would be useful to check in with our latest research and see what stories have come out of the fossil fuel lending numbers so far this year. All data quoted below is taken from our research into fossil … Read More

Suncorp’s $1bn extreme weather loss. Climate change, anyone?

24 September 2015 Suncorp Group held its Annual General Meeting in Brisbane today and several shareholders pointed out that in the last financial year, Suncorp was hit by losses from natural disasters of $473 million above provisions. The Brisbane hailstorm in November, Cyclone Marcia in February and NSW storms in … Read More

Fossil Free Funds launches in the US

16 September 2015 Similar to our own Super Switch project, the Fossil Free Funds initiative has been launched by US non-profit As You Sow. The project makes it simple for users to research their exposure to fossil fuel companies through the holdings of their investment funds. Tools like these are hugely important for people to … Read More

Big banks need to update their fossil fuel policies

Is your bank investing in dirty fossil fuels?

15 September 2015 An article written by Clancy Yeates in yesterday’s Sydney Morning Herald highlighted the significant financial and reputational risks that fossil fuel assets pose to banks, and questioned whether NAB and CommBank’s recent moves to distance themselves from Adani’s Carmichael mine project indicate a growing wariness of these … Read More

First State Super joins divestment party

12 September 2015 So First State Super has joined the divestment party, albeit turning up with warm VB rather than the ice cold microbrew we were hoping for. On Wednesday evening, the fund advised its members that it would be divesting from fossil fuels in its Socially Responsible Investment option. … Read More

Commonwealth pulls out of Carmichael mega-mine

6 August 2015 After months of sustained community pressure, Commonwealth Bank has ended its role as advisor to Adani’s Carmichael coal project. Fairfax last night reported that the bank cited environmental factors and financial risks as the reasons for breaking ties with the project. The decision is a massive blow to the Indian company’s … Read More

Fracking Finance

‘Fracking Finance’ details the dangers that unconventional gas extraction methods, such as fracking, pose to our land, water and communities. This Market Forces report also examines which financial institutions are supporting the biggest players in Australia’s coal seam gas industry. Click the cover image to view and download a pdf version of … Read More