Mineral Resources pursues pathway out of line with 1.5°C

The Mineral Resource board made it clear at yesterday’s annual general meeting (AGM) that they would continue to pursue dirty oil and gas development despite their peer Fortescue Metals announcing a major move into renewable energy and green hydrogen.  Mineral Resources is a  lithium and iron ore mining company with … Read More

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. NAB’s funding for the oil … Read More

NAB mealy-mouthed on 2030 thermal coal exit

NAB

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 2035 drew widespread criticism for … Read More

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 also revealed for the first time the extent of the … Read More

CommBank fails to gaslight shareholders over its gas lending at 2020 AGM

13 October 2020 Today’s annual general meeting (AGM) heard from Commonwealth Bank shareholders who clearly feel the bank isn’t living up to its climate claims and commitments, especially considering its funding for expansion of the gas industry. Gas lending incompatible with the Paris Agreement In August 2019, CommBank committed to … Read More

Media Release: ANZ, NAB face shareholder resolutions on climate action

ANZ and NAB called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 1 October 2020 Environmental finance organisation Market Forces is today lodging shareholder resolutions with ANZ and NAB. The resolutions call for a reduction in exposure to the fossil fuel … Read More

Shareholder resolutions call for fossil fuel wind up plans

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