17 November 2020 AustralianSuper’s new climate change policy has failed to even match, let alone improve on, the standard set by some of its big industry fund peers, disappointing members who were hoping to see the nation’s largest super fund take the lead on climate...
Feature
The Economist invites company building massive new coal mine to present on climate risk
16 November 2020 The Economist Magazine’s Climate Risk Asia Week starting on 30 November includes a number of online events discussing the various aspects of climate risk. The one that particularly caught our attention is the session on Financing Infrastructure, which...
7.4% of shareholders call on Cooper Energy to wind up gas and oil production
12 November 2020 Cooper Energy, a rapidly-growing gas and oil producer focused on the south east Australian market, today faced a shareholder resolution calling on the company to wind up its fossil fuel production in a manner consistent with the Paris climate goals....
Fortescue talks up renewable energy shift, but ignores many climate questions
11 November 2020 Fortescue Metals Group (FMG) founder and chair Andrew Forrest used today's annual general meeting to announce the company's plans to move heavily into renewable energy and green industry opportunities, but appeared to systematically ignore shareholder...
NAB confirms it will update stance on polluting oil and gas
11 November 2020 Today NAB released its sustainability report, failing to take the minimum steps needed now to align the bank's finance activity with the Paris Agreement, while confirming it will update its stance on funding the dirty oil and gas sector by next year....
Adani Mining accidentally reveals true identity in monumental PR fail
November 6 2020 Yesterday, under the cover of the US Presidential Election, Adani Mining announced via coal-friendly media outlets that it was rebranding to “Bravus Mining and Resources”. However, this quiet name change soon turned into a public relations disaster...
NAB mealy-mouthed on 2030 thermal coal exit
5 November 2020 NAB’s full year results released today reveal the bank is “expected” to exit thermal coal mining by 2030, five years earlier than its inadequate official commitment to exit by 2035. NAB’s announcement last year that it would exit thermal coal mining by...
Mark’s historic super fund legal win
5 November 2020 You may have seen the news this week about 25-year-old Brisbane ecologist Mark McVeigh, who won a historic legal battle against his $57 billion super fund, Rest, over climate change. What you may not know is that Mark used Market Forces’ research and...
Westpac increases exposure to fossil fuel power generation
2 November 2020 Westpac’s full year results released today reveal the bank has reduced its exposure to fossil fuel mining and extraction while increasing it to coal and gas-burning power generation over the past year. Westpac’s 2020 Sustainability Performance Report...
ANZ commits to exit thermal coal, but rewards climate-destructive companies
29 October 2020 ANZ’s updated fossil fuel policy, released today, signalled an end to the bank’s involvement in thermal coal, but rewards the most climate-destructive companies and fails to move the needle on oil and gas. In its latest policy update, the bank has said...