Market Forces is supporting shareholders to call on companies to demonstrate how they will ‘wind up’ (bring about an end to) coal, oil and gas production over time, protecting money from being wasted on new projects, and supporting workers as the economy rapidly moves on from fossil fuels to meet … Read More
CommBank on its way to thermal coal exit but climate concerns remain
12 August 2020 Today Commonwealth Bank released its 2020 annual report and revealed the extent to which it’s exposed to fossil fuels and how this has changed over the past year. Although the bank seems to be heading in the right direction with respect to thermal coal and gas, the … Read More
Australia’s pariah projects: the fossil fuel proposals threatening to bust our climate goals
Since January 2016, just after expressing support for the climate goals of the Paris Agreement, Australia’s major banks did something our climate simply cannot afford; they poured billions of dollars into projects and companies expanding the scale of the fossil fuel industry. Despite warnings from economists and scientists that our … Read More
Climate scepticism remains at the top of AMP
Last week in the USA, JPMorgan Chase announced the demotion of former Exxon CEO and architect of climate denial, Lee Raymond, from his previous lead director role. Yet in Australia, the head of AMP David Murray stays in his position of chairman despite having previously disputed the science of climate … Read More
The investors helping Woodside weather one crisis but not the other
28 April 2020 Woodside Energy is Australia’s largest gas producer, with a focus on liquefying and exporting gas, a fossil fuel the use of which cannot be expanded if we’re to limit global warming to 1.5°C. Woodside is headquartered in Western Australia, where most of its projects are located, including … Read More
Australia’s major political parties, brought to you by fossil fuels!
February 2020 Every year, Australian governments and their departments spend billions of dollars of your money so that more coal, gas and oil can be extracted and burned. Favourable decisions include: tax-based subsidies direct contributions concessional loans from public financial institutions lax environmental laws and approvals for disastrous projects. Meanwhile, … Read More
Urgent: Tell HSBC to withdraw from Payra coal port
31 Jan 2020 Use the form on the right to email HSBC telling the bank to withdraw from Payra Port. UK-headquartered HSBC is arranging finance for the dredging of Payra coal port in Bangladesh. Among other commodities, this port would import 20 million metric tons of coal for eight proposed … Read More
Do you pay more tax than the big fossil fuel companies?
For all the environmental and climate destruction wrought by the fossil fuel industry here in Australia and globally, you’d think there must be a significant payback through taxes, right? Well, sadly, there are ways for massive fossil fuel companies to minimise their tax bills in Australia, and these companies are … Read More
Cue Energy’s empty words on climate change is not enough.
10 December 2019 Cue Energy, an Australian ASX-listed oil and gas company that operates in Australia, New Zealand and south-east Asia, had to fend off numerous climate-related questions at its annual general meeting yesterday in Melbourne. In its annual report, the company states: “(Cue) recognizes that the management of the … Read More
ANZ’s secret plan to cut thermal coal leaves Westpac out in the cold
6 December 2019 ANZ has internal plans to cut thermal coal mining exposure by 75% by March 2024.* While this is a welcome ambition, ANZ has not confirmed the targeted 75% reduction officially in public policy. Take a moment to tell ANZ to publicly confirm its secret plans to phase … Read More