3 October 2019 In a further blow to Adani, US-based insurer AXIS Capital has withdrawn from a bid to insure the construction of the Carmichael rail line.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...
Media releases
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...
Media Release: Rio Tinto to face shareholder resolution as BHP sets Paris-aligned ‘scope 3’ emission reduction goals
Rio Tinto Pilbara expansion. Cape Lambert and Dampier and Rail. 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...
Media release: Whitehaven Coal calls 185 countries’ bluff
Whitehaven Coal's Werris Creek mine 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...
Media release: AGL management rejects climate resolution
8 August 2019 AGL plans to operate its dirty Loy Yang coal power station until 2048 - Credit: Environment Victoria AGL’s management today advised shareholders to reject a resolution calling on the company, Australia’s largest greenhouse gas emitter, to reduce...
Media release: Commbank out of thermal coal by 2030
New fossil fuel projects must prove carbon compliance Wednesday 7 August 2019 In today’s commitment, made in the bank’s new Environmental and Social Framework, to exit thermal coal by 2030, Commonwealth Bank has issued a stark warning to industry and policy-makers...
Media release: Suncorp dumps thermal coal
26 July 2019 In response to Market Forces lodging a shareholder resolution, Suncorp has revealed it is exiting the thermal coal sector, meaning there are now no Australian insurers willing to underwrite new thermal coal mines and power stations. A Suncorp spokesman...
Media release: Suncorp shareholders demand phase out of fossil fuel exposure
Thursday, 25 July 2019 Market Forces has lodged a shareholder resolution on behalf of over 100 Suncorp shareholders, calling on the insurer to set targets to reduce its investment and underwriting exposure to coal, oil and gas in line with the Paris Agreement’s goal...
Media release: Chubb’s coal policy has an Australia-sized loophole
July 9, 2019 Chubb’s new restrictions on its underwriting and investments in thermal coal have come under attack from Australia, as groups there call upon the insurer to clarify its stance on the controversial Adani Carmichael coal project. Chubb’s policy rules out...
Media release: Japan’s MUFG commits to end financing for new coal projects, NGOs call for further steps
16 May 2019 | Joint release: No Coal Japan International NGOs advert in the Financial Times (Asia), 14 May 2019 Japanese and international environmental NGOs welcomed Mitsubishi UFJ Financial Group (MUFG)’s release of its revised environmental and social policy...