22 October 2020 – For immediate release Institutional investors will today vote on a world first shareholder resolution, calling on Whitehaven Coal to demonstrate how it will wind down coal operations in line with global climate change targets. The resolution, which will be put to Whitehaven Coal’s AGM today, challenges … 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
Media release: ANZ to ditch companies without a climate plan
Will this mean it says ‘no’ to a $500m loan to gas company Santos? 9 September 2020 ANZ CEO Shayne Elliot says the bank will drop customers who fail to develop low carbon transition plans. Speaking at ANZ’s 2020 ESG briefing yesterday, Elliot said: “But if we get to a … Read More
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 and insuring new and additional oil and … Read More
Media release: Banks betray communities and climate in funding Jawa 9 and 10
17 July 2020 Reacting to the news that a club of banks, led by DBS and including Korea Export Import Bank, Korea Development Bank and Hana Bank, CIMB, Maybank of Malaysia, Bank of China, Bank Mandiri, Bank Negara Indonesia and Exim Bank of Indonesia have signed a 15 year loan … Read More
Media release: Fossil fuel lending by Australian banks tops AU$35bn
New Market Forces analysis – Funding Climate Failure Wednesday 8 July, 2020: Despite repeated pledges and policies to the contrary, Australia’s big four banks have once again increased funding to the expansion of the fossil fuel industry over the past year. The figures mean fossil fuel lending has topped $35.5 … Read More
Media release: Rio faces shareholder revolt over emissions targets
Friday 8 May, 2020: 37% of investors have backed a climate resolution calling on Rio Tinto to set clear targets to cut emissions, including those generated by the-use of its products, or “Scope 3” emissions. While lower than record numbers at Santos and Woodside, the vote is more than six … Read More
Media release: Westpac quits thermal coal by 2030
Monday 4 May, 2020: Westpac’s Climate Change Action Plan Update, released today, has been described as another nail in the coffin of thermal coal, by environment finance group, Market Forces. The policy commits the bank to being out of thermal coal mining by 2030, while the emissions-intensity target set for … Read More
Media release: Malaysian banks prop up dying coal industry, despite central bank calls to manage climate risk
New analysis uncovers Malaysian banks’ risky and dirty multi-billion-dollar coal finance 20 February 2020 Malaysian banks are the target of an international climate campaign on their proposed funding to a new Indonesian coal power station after new data revealed CIMB, Maybank and RHB provided US$4.9 billion in finance to the … Read More
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 with another year of high catastrophe costs and QBE’s recognition … Read More
