23 October 2020 Amidst ever-worsening extreme weather and the hits to their bottom lines it is causing, two of Australia's three big insurers faced shareholders at their annual general meetings this week. Over the last 18 months both have taken significant steps away...
Suncorp out of oil and gas drilling, leaving QBE isolated
21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government's gas expansion plans, with an updated policy released today that bans the company from investing in, financing and insuring new and additional oil and gas exploration...
Media release: Suncorp rules itself out of Government’s gas push
For immediate release, 21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government's gas expansion plans, with an updated policy released today that bans the major Australia-based insurance company from investing in, financing...
QBE’s fossil fuel inconsistency questioned at AGM
7 May 2020 As has been the case now for several years (see 2019 and 2018), fossil fuels and the climate crisis dominated insurance company QBE's annual general meeting (AGM) today, despite it being shifted online due to the COVID-19 pandemic. With QBE having announced...
QBE faces shareholder resolution on oil and gas support
5 March 2020 Shareholders coordinated by Market Forces together with the $4bn investment manager Australian Ethical have co-filed a resolution calling for the global insurer to align underwriting (insurance) and investment activities with keeping global warming below...
Media release: QBE shareholders to call on QBE to stop fueling climate crisis
For immediate release, 17 February 2020 Market Forces has announced it will lodge a shareholder resolution calling on global insurer QBE to get its underwriting and investment activities in line with keeping global warming below 1.5 degrees. The resolution coincides...
Insurance “red zones” spread across Australia. Insurers making it worse
19 November 2019 The number of households whose insurance premiums have become unaffordable is rising at an alarming rate across Australia. This is because of more extreme weather events and rising sea levels, which are linked directly to global warming....
Medibank claims fossil fuel divestment, but hasn’t finished the job
14 November 2019 What a difference a few years makes. Back in 2016, when the climate crisis was first raised by shareholders at the Medibank annual general meeting (AGM), the company seemed to have given no consideration to the impacts that fossil fuel pollution and...
IAG Shareholder action
Take Action: Write to IAG and ask it to follow-through on the commitments made at its 2019 annual general meeting. IAG AGM report: 25 October 2019 At its annual general meeting (AGM) in Sydney today, IAG faced...
IAG obscures its fossil fuel investments
25 October 2019 At its annual general meeting (AGM) in Sydney today, IAG faced calls from investors to fully disclose its fossil fuel investment exposure and set targets to reduce that exposure in line with limiting global warming to 1.5 degrees. IAG's chair said...