26 July 2019 In response to Market Forces lodging a shareholder resolution, Suncorp has revealed it is exiting the thermal coal sector, meaning there are now no Australian insurers willing to underwrite new thermal coal mines and power stations. A Suncorp spokesman...
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Macquarie’s slow progress leaves room for gas expansion
25 July 2019 Macquarie Group’s annual general meeting today saw the company face community and shareholder backlash over its advisory role on the huge Rio Grande liquefied natural gas (LNG) project in the United States. While Macquarie has made some good progress on...
Adani’s engineers GHD stay silent on coal mine work
The Alpha test coal pit above was the first in the Galilee Basin. GHD is working on the engineering design for Adani's nearby Carmichael coal mine project. Credit: Andrew Quilty 15 July 2019 The engineering consultancy managing the design of Adani’s Carmichael coal...
Media release: Chubb’s coal policy has an Australia-sized loophole
July 9, 2019 Chubb’s new restrictions on its underwriting and investments in thermal coal have come under attack from Australia, as groups there call upon the insurer to clarify its stance on the controversial Adani Carmichael coal project. Chubb’s policy rules out...
Banks could accidentally fund Carmichael coal via Adani bond issue
8 July 2019 In early July 2019 Adani issued US$1billion in bonds for one part of its business (Adani Ports and Special Economic Zone), which nine major banks invested in. This company operates several ports in India. Unfortunately, the evidence shows that the Adani...
Adani still vulnerable on insurance for its Carmichael mine and railway
28 June 2019 See which companies are Adani's catastrophic Carmichael coal project Like the stampede that saw almost 40 major banks turn their backs on Adani’s Carmichael coal mine and rail project (eventually forcing Adani to pledge it will “self-fund”), major...
Norwegian sovereign wealth fund pulls $3 billion out of AGL, BHP and South32
The Norwegian government’s decision to tighten the Government Pension Fund Global’s (GPFG) coal exclusion criteria will see the world’s richest sovereign wealth fund withdraw a combined AU$3 billion from AGL, BHP and South32. Take action: Tell your super fund to...
QBE’s unanswered questions
11 June 2019 It’s not often that an annual general meeting (AGM) can be described as compelling. QBE’s AGM held on 9 May, however, delivered the goods with several questions from the floor resulting in extraordinary exchanges between shareholders and the chairman...
Sydney Airport: taking climate seriously after flooding events
24 May 2019 What a difference a year (and some runway flooding) makes! Sydney Airport’s chairman Trevor Gerber has certainly changed his tune on taking climate risk seriously since last year’s annual general meeting. Back then, Gerber didn’t think the risks of...
“If the benchmark is 1.5ºC we should measure ourselves against it” says Alumina chairman
23 May 2019 Alumina Limited is one of Australia’s top ASX-listed mining companies. As its name suggests, the company focuses on alumina, the material refined from bauxite and used for aluminium production. Australia is the second largest alumina producer in the...