Sumitomo to face shareholder resolution at its AGM over climate inaction

A representative of environmental finance group Market Forces has today filed a shareholder resolution with Sumitomo Corporation, calling on it to adopt and disclose a plan outlining its business strategy to align its business with the Paris Agreement’s goal of limiting global temperature increases to 1.5 degrees Celsius. “By aiming … Read More

US$2.2 trillion investor PIMCO bans Adani Ports

22 March One of the world’s largest investors, PIMCO, has banned future investment in Adani Ports and Special Economic Zone (Adani Ports) due to the company’s role in the controversial Adani Carmichael coal project in Australia.  PIMCO, which manages US$2.21 trillion, did not participate in the most recent bond issue … Read More

NAB mealy-mouthed on 2030 thermal coal exit

Thursday 5 November 2020: NAB’s full year results presentation released today reveals 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 … Read More