Tuesday 3 May 2022 QBE’s board is facing a confrontation with shareholders at its AGM this Thursday, with a resolution placing its oil and gas policies under the spotlight. The resolution has been co-filed by $6.8bn Australian Ethical and shareholders coordinated by advocacy group Market Forces. Active Super and U … Read More
Corporate Japan faces record number of climate shareholder resolutions
TOKYO, Japan, 13 April 2022 Market Forces, Kiko Network, 350.org Japan, Friends of the Earth Japan, Rainforest Action Network Corporate Japan will this year face a record-high number of climate-focused shareholder resolutions. Today, shareholders announced four climate resolutions targeting SMBC Group, Mitsubishi Corporation, and TEPCO and Chubu Electric, over their … Read More
Santos’ oil and gas portfolio would halve in value under the IEA’s net zero by 2050 scenario
30 March 2022 Buried on page 40 of Santos’ new Climate Change Report is a damning chart, showing the value of the company’s oil and gas portfolio would drop by around half under the International Energy Agency’s Net Zero by 2050 scenario. Santos projects this fall could be offset by … Read More
QBE supports Paris and net zero with words, undermines them with actions
For immediate release: 18 February 2022 QBE’s willingness to underwrite new oil and gas projects will see it once again face a shareholder resolution, coordinated by Market Forces and co-filed with Australian Ethical, an investor managing over $6.5 billion as of September 2021. The resolution calls on QBE to align … Read More
Woodside’s climate ‘plan’ full of hot air
17 February 2022 Reacting to Woodside’s Climate Report released today, Market Forces Asset Management Campaigner Will van de Pol said, “Woodside’s three point ‘plan’ to address its gargantuan scope 3 emissions profile amounts to nothing more than more hot air.” “Investors must see through the greenwash and demand the company … Read More
Super funds still undermining climate goals, despite $1 trillion shift out of coal
15 February 2022 New research from Market Forces reveals every major super fund in the country continues to undermine the Paris Agreement and net zero by 2050 climate goals by investing in companies expanding the scale of the fossil fuel industry. However, the research shows some movement, with super funds … Read More
Woodside and Santos face shareholder resolutions to manage down oil and gas production
11 February 2022 Market Forces has worked with Woodside and Santos shareholders to formally call on Australia’s two largest, and rapidly growing, oil and gas producers to manage down production in line with a net zero emissions by 2050 pathway. The resolutions, which will be voted on at the companies’ … Read More
Net Zero Australian banks fund $3.5bn carbon bomb
18 January 2022 NAB, ANZ and Westpac are among 18 global banks that have trashed any net zero commitments they have by lending1 US$3.49 billion to Global Infrastructure Partners (GIP) for its purchase of a 49% stake in the Pluto LNG Train 2 gas processing facility, paving the way for … Read More
New ANZ climate policy shuffles Titanic chairs
26 November 2021 ANZ today updated its climate policy, which fails to prevent the bank funding new oil and gas projects and the companies pursuing them. This is despite the IEA concluding there is no room for new fossil fuel supply projects to achieve net-zero emissions globally by 2050. The … Read More
The fight has just begun: Market Forces response to Scarborough-Pluto 2 final investment decision
22 November 2021 Reacting to Woodside and BHP’s announcement of final investment decision on the Scarborough offshore gas field and associated Pluto Train 2 LNG terminal, Market Forces Asset Management Campaigner Will van de Pol said, “the fight against the climate-wrecking Scarborough gas project has only just begun.” “The Scarborough-Pluto … Read More