18 April 2019 This week saw Singapore's two biggest banks -Oversea-Chinese Banking Corporation (OCBC) and DBS - commit to an endpoint for their lending to new coal power plants. On Monday, OCBC CEO Samuel Tsien told media: "We won't do any new coal-fired power...
Feature
HSBC bosses spin yet more climate rhetoric on coal finance for developing countries
A full-page ad in the UK’s biggest business newspaper, a protest and plenty of deservedly tough questions. HSBC’s AGM had it all. 15 April 2019 Last Friday marked HSBC’s 2019 annual general meeting (AGM) and a year since the bank shamefully decided to leave the door...
Suncorp: The last major Australian insurer supporting new coal
11 April, 2019 One of Australia’s biggest insurance companies has ended up being the last major insurer still open to providing insurance to (underwriting) new thermal coal projects. Suncorp, which owns brands AAMI, GIO, APIA and Just Car, was put into this...
QBE dumps thermal coal due to global warming
2 April 2019 On Saturday, Australia’s biggest coal underwriter (insurer) took the positive step of committing to phase out its entire thermal coal business by 1 January 2030. QBE also ruled out providing insurance to any new thermal coal mine, power plant or transport...
Out of line, out of time
With devastating impacts of climate change already being felt around the world, the need to act has never been more urgent. But 22 of Australia’s biggest companies are dragging us in completely the wrong direction, pursuing new fossil fuel projects and basing their...
Aurecon attempts to spin its way off the Adani List
18 March 2019 Aurecon, a major consultancy working for Adani’s Abbot Point coal port, is taking Orwellian corporate spin to a new level by telling university students and its own staff it is not working on the disastrous Adani Carmichael project. It justifies this...
Shareholders pressure QBE to end fossil fuel support
Market Forces Campaigner Pablo Brait ready to deliver the resolution to QBE's Sydney offices, 5 March 2019 Today, shareholders coordinated by Market Forces together with the $2.85 billion investment manager Australian Ethical, lodged a resolution calling on QBE...
QBE‘s climate credibility up in smoke
25 February 2019 QBE’s 2018 annual report, released today, disappointingly reveals the insurer will be doing absolutely nothing about its support for dirty fossil fuels for at least two more years - shredding any credibility the company had left when it comes to...
QBE targeted over fossil fuel support as Australia burns
4 February 2019 As Australians suffer under record-breaking extreme temperatures, bushfires and floods, Market Forces has launched an outdoor advertising campaign demanding Australia’s major global insurance company end its support for the fossil fuel companies...
Our Future: clean energy a test for banks’ rehabilitation
Today’s release of the Royal Commission’s report into the financial services industry will chronicle the recent misconduct of the major banks and plot a course for how the industry can restore some integrity. It’s going to be a long road back, but one opportunity for redemption comes in the role banks can play reshaping our energy landscape.Â