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
Media release: Siemens decides to work on Adani Carmichael coal project
Responding to the news that Siemens has decided to continue working on the Adani Carmichael coal export project, Market Forces Executive Director Julien Vincent said: “Siemens’ appalling decision to keep working on Adani’s climate-wrecking coal mine shows its indifference to the horrendous climate change impacts being faced by Australia and the rest … Read More
Too little, too late: NAB’s new climate policy an exercise in greenwash
15 November 2019: NAB’s Sustainability Report, released today, is little more than greenwash and a recipe for climate catastrophe, says environmental finance group Market Forces. In particular, its central announcement to exit thermal coal mining by 2035 is a clear example of too little too late, falling short of time … Read More
Media Release: Three major banks face shareholder resolutions on climate action
Westpac, NAB and ANZ called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 10 October 2019 Environmental finance organisation Market Forces is today lodging shareholder resolutions with Westpac, NAB and ANZ today. The resolutions call for a reduction in lending and … Read More
Media release: AXIS Capital withdraws from Adani rail line insurance deal
3 October 2019 In a further blow to Adani, US-based insurer AXIS Capital has withdrawn from a bid to insure the construction of the Carmichael rail line. AXIS’ move makes it the 15th major insurer and 58th company to refuse to support the construction of Adani’s coal mine and railway … Read More
Media release: Investors heap pressure on AGL
Thursday 19 September 2019 At today’s AGM in Sydney, over 30% of shareholders, worth more than AU$3.8bn, voted against management and in support of a resolution calling on the company to reduce emissions in line with the goals of the Paris Climate Agreement. Response from Will van de Pol, Market … Read More
Media Release: Rio Tinto to face shareholder resolution as BHP sets Paris-aligned ‘scope 3’ emission reduction goals
Thursday 12 September, 2019: Following BHPs confirmation that the public goals it will release next year for its “Scope 3” greenhouse gas emissions will be aligned with the Paris Agreement, externally verified and time-bound, environmental finance group Market Forces is turning its attention to rival miner Rio Tinto. Market Forces … Read More
Media release: Whitehaven Coal calls 185 countries’ bluff
15 August 2019 Whitehaven Coal, Australia’s biggest pure-play coal miner, has once again trumpeted coal demand projections based on a scenario that would see the utter failure of the Paris Agreement. “Whitehaven Coal’s plans to massively increase coal production seem to be based on the presumption that the world will … Read More
Media release: AGL management rejects climate resolution
8 August 2019 AGL’s management today advised shareholders to reject a resolution calling on the company, Australia’s largest greenhouse gas emitter, to reduce emissions in line with the climate goals of the Paris Agreement. “AGL’s argument against a common sense shareholder resolution appears to reject the science, which tells us … Read More
