Wednesday 11 August 2021 As the IPCC issues a fresh warning of the devastating consequences of the climate crisis and the narrowing window to avoid catastrophe, Commonwealth Bank (CBA) has today released an updated policy which weakens and undermines its own existing...
Media releases
Japan’s Largest Bank Targeted by Climate Resolution: Mitsubishi UFJ Financial Group told to align with Paris
TOKYO, Japan, March 29 2021: Japanese NGO Kiko Network, along with three individual investors, have just filed Japan’s second ever climate resolution on a Japanese financial institution, this time on Japanese megabank Mitsubishi UFJ Financial group (hereafter “MUFG”)....
UPDATE: Sumitomo faces major rebuke from shareholders on climate inaction
21 June 2021 In a major rebuke to its management, 20% of shareholders voted to support a climate resolution lodged by Market Forces with Sumitomo Corporation (Sumitomo). The resolution is a first of its kind targeting a Japanese trading house. A vote of...
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,...
Adani Ports’ inclusion on Dow Jones Sustainability Index to be reviewed
19 March 2021 S&P Global has responded to a case put forward by 37 organisations by agreeing to undertake a review into the inclusion of Adani Ports and Special Economic Zone in the Dow Jones Sustainability Index (DJSI). After receiving the case on Wednesday 17...
Coal and coup: Dow Jones Sustainability Index urged to urgently review Adani Ports status
17 March 2021 Just months after Adani Ports and Special Economic Zone (Adani Ports) debuted on the Dow Jones Sustainability Index (DJSI), environment and human rights groups representing millions of people from the USA, Europe, Myanmar and Australia, have formally...
Media release: QBE faces shareholder resolution after kicking climate can down the road
For immediate release: 19 February 2021 QBE’s updated Environmental and Social Risk Framework, released with its full year results today, includes oil and gas targets which ignore the urgency of the climate crisis and are out of line with the Paris Agreement goal of...
Media Release: Lloyd’s takes a step away from coal, threatening Adani’s Carmichael project
17 December 2020 Lloyd’s of London will be publishing its first Environment Social and Governance (ESG) Report today, potentially ending the Adani Carmichael coal project’s ability to secure insurance in its marketplace. According to reports, Lloyd’s is recommending...
Media Release: Fidelis becomes 28th major insurer to rule out Adani Carmichael coal project
Wednesday 16 December 2020 In an email to Market Forces (available upon request, received Friday 11 December) specialty re/insurer Fidelis has confirmed that its recently published Environment and Sustainability Statement rules it out of underwriting the Adani...
Media Release: ANZ, NAB face climate change shareholder resolutions at AGMs
ANZ and NAB called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Tuesday 15 December 2020 Shareholder resolutions lodged with ANZ and NAB by over 100 shareholders, supported by environmental finance organisation...