At Whitehaven Coal’s annual general meeting (AGM) today, almost 10% of shareholder votes were cast in favour of a Market Forces-coordinated proposal calling on the company to demonstrate how spending on new and expanded coal mines is a better use of capital than...
Coal
Adaro’s climate destruction journey
A recap of the mounting pressures and reputational risks linked with Adaro’s controversial coal activities In 2023, Adaro published a “decarbonization journey” that supposedly would carry the company towards a green transformation. Although it has recently...
After the hottest year on record, Bank of America backtracks on coal
In October last year, Bank of America was the only major US bank to back Whitehaven Coal (along with up-and-comer investment bank Jefferies) by providing a $900 million dollar loan to Whitehaven for its acquisition of the Blackwater and Daunia mines. Today is Bank of...
Southeast asian banks must dump Indonesian coal
Profusion of standards has allowed companies to obscure potential financial impact
Meet the new bank of choice for Australian coal miners – Jefferies Group
28 March 2024 Today is the annual general meeting of Jefferies Group, one of Whitehaven Coal’s most recent bankers. In the last few years, Jefferies has come up as a new bank of choice for other Australian coal companies in Australia. We first took note of the...
Japan should lead the way on disclosure of climate risk
Profusion of standards has allowed companies to obscure potential financial impact
2023 Coal Season Wrap up
The year 2023 saw the Australian coal industry become increasingly financially ostracised. As the rest of the world transitions away from the dirtiest fossil fuel, coal miners have to look further afield for funding which once came easily. Our movement has put...
Banks and regulators must smell the smoke: Coal is not a transition fuel
OPINION | Binbin Mariana, Energy Finance Campaigner at Market Forces in Jakarta, Indonesia. A former banker, Ms Mariana believes financial institutions have a duty to prevent the climate crisis. Indonesia is at a crossroads on climate change. Extreme disasters are...
Indonesia’s Just Energy Transition must be transparent and green
OPINION | Andri Prasetiyo, Senior Researcher at Senik Centre Asia and Nabilla Gunawan, Indonesia Energy Finance Campaigner at Market Forces The Just Energy Transition Partnership (JETP) between Indonesia and its major trading partners is at risk of stifling...
Why super funds need to get out of fossil fuels
OPINION | Jo Dodds, President of Bushfire Survivors for Climate Action Over recent weeks, bushfires have been raging across the country in NSW, Victoria and Central Australia, and it’s deeply troubling. I’m worried for everyone near the fires. It’s particularly...