1 February 2022 Australia was heavily criticised amid the United Nation's COP26 climate summit last year, as it reportedly joined or ‘hid behind’ others such as Saudi Arabia and Russia in opposing key commitments and negotiating text. Its last minute commitment to net...
Feature
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...
Repeat offenders NAB, ANZ and Westpac bankrolling “bet against the Paris Agreement”
NAB, ANZ and Westpac are among 18 global banks that have loaned1 to a gas processing facility that paves the way for a carbon bomb at the scale of 15 coal power stations. The banks—including Japanese megabanks Mizuho, MUFG and SMBC, UK’s HSBC and Standard Chartered,...
Convex’s first sustainability statement pointless without concrete action on coal and tar sands.
23 December 2021 With Adani’s insurance options both inside and outside the Lloyd’s of London market rapidly shrinking, one of the laggards still open to insuring the Adani Carmichael project is UK and Bermuda-based Convex Insurance. Last week, Convex Insurance...
Adani Ports removed from corporate climate campaign due to fossil fuel links
21 December 2021 Adani Ports and Special Economic Zone (Adani Ports) has once again had its greenwashing attempts thwarted due to its links to the Carmichael thermal coal mine and other fossil fuel projects, this time by being removed from the Business Ambition for...
NAB fails to defend funding for destructive fossil fuel companies
17 December 2021 NAB has been lending heavily for projects and companies expanding the fossil fuel industry. As such, the bank today faced a formal proposal from shareholders telling it to stop funding new coal, oil and gas projects. NAB also faced a bombardment of...
ANZ forced to address heavy fossil fuel funding at 2021 AGM
16 December 2021 ANZ faced a formal proposal from shareholders that it commit to stop funding new fossil fuel projects at today’s annual general meeting (AGM). Despite attempts to avoid accountability, the bank’s board also received a barrage of tough questions over...
Westpac slammed over destructive fossil fuel funding at 2021 AGM
15 December 2021 Westpac faced a formal proposal from shareholders that it commit to stop funding new fossil fuel projects at today’s annual general meeting (AGM). The bank’s board also received a barrage of tough questions over its continued funding for companies...
Send some Christmas cheer to Deutsche Bank’s CEO!
7 December 2021 ‘Tis the season to be jolly… unless, like Deutsche Bank, you’re arranging funds for climate-wrecking coal companies. That’s why this Christmas we’re going to flood Deutsche Bank’s CEO with Christmas cards, to remind him that working with Whitehaven...
NAB: withdraw investment in the Coastal GasLink pipeline
Despite its commitments to net-zero by 2050 and the Paris Agreement, NAB has continued pumping hundreds of millions of dollars into projects that expand the fossil fuel industry and the companies pursuing them. Last year, it loaned CA$117.5 million to the 670km...