UPDATE: June 2022 On 22 June 2022, in a major victory for climate action and years of opposition by a global movement, Japan announced an end to funding of Matarbari Phase 2 coal power plant in Bangladesh. Following the announcement, the Bangladesh Government...
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Australian record: 55% of AGL shareholders demand emission reductions
22 September 2021 55% of shareholders in Australia's biggest climate polluter, AGL, today demanded the company set targets to reduce its gargantuan emissions in line with the climate goals of the Paris Agreement. This is the highest ever vote in favour of a...
Case for cutting financial ties with Adani Group presented at webinar
21 September 2021 Last week Responsible Investor, in partnership with Market Forces, hosted a webinar entitled Adani Group’s new coal projects: why and how investors need to act. Hundreds of employees of financial institutions, based mainly in Europe and the US east...
Funding climate failure: how Australia’s big banks are undermining the Paris Agreement and net zero by 2050.
NAB to ‘measure itself against’ IEA’s Net Zero by 2050 scenario
10 September 2021 NAB’s key executives appeared yesterday at the Australian Parliament’s Standing Committee on Economics, and addressed the review of the bank’s oil and gas policy—due for release “in the coming months”. While the bank had previously stated it’s...
Deutsche Bank, JP Morgan and Standard Chartered break promise and loan US$1 billion to Adani coal miner
19 August 2021 Financial news sources have confirmed that JP Morgan, Standard Chartered and Deutsche Bank all participated in a massive US$1 billion loan to Adani Enterprises, the Adani Group company building the climate-wrecking Carmichael thermal coal project in...
BHP lets Woodside go all in on climate destruction
18 August 2021 Woodside yesterday announced its plan to acquire BHP's global portfolio of oil and gas assets, which would roughly double the company's fossil fuel production capacity. In payment, Woodside will issue new shares amounting to 48% of the combined...
CommBank waters down funding hurdle for fossil fuel expansion, gives climate-wrecking companies another 4 years
11 August 2021 Despite supporting the Paris Agreement and the goal of net zero by 2050, CommBank’s annual report—released today—watered down an existing (albeit ineffective) barrier to funding expansionary fossil fuel projects, and gave climate-wrecking companies at...
State Bank of India still considering loan to “fully funded” Adani coal project
5 August 2021 In November 2020, Indian media reported that the State Bank of India (SBI) was considering a A$1 billion loan for Adani’s Carmichael thermal coal project. People all over the world took immediate action, leading to international news headlines and a...
Adani is doubling down on coal, investors and bond arrangers must act
30 July 2021 In mid-July Adani Electricity Mumbai issued US$300m worth of “sustainability-linked” bonds - a form of general corporate finance which carry no obligation to be directed towards sustainable projects and can be issued by any company willing to report on...