Melbourne, 4 August 2016 Australia’s major banks have made a mockery of their ‘two degree’ commitments by pouring AU $5.6 billion into the expansion of the fossil fuel industry in the months since the December 2015 Paris climate change agreement. New research released...
Media releases
Media release: Crowdfunding campaign sends Bulga locals to confront mining giant Rio Tinto at its AGM
4 MAY 2016 Three local residents from the historic town of Bulga in the New South Wales Hunter Valley are set to bring their campaign opposing Rio Tinto’s coal mine expansion at Mt Thorley Warkworth directly to the company’s AGM in Brisbane on Thursday. This follows a...
Media Release: New campaign targets QBEs climate hypocrisy
Monday 2nd May, 2016 As QBE prepares for its Sydney AGM in Sydney on Wednesday, Market Forces has today launched a new campaign calling on the insurance company to stop ‘making climate change possible.’ Activists this morning visited the company’s headquarters in...
Media Release: Australia’s biggest super fund rejects fossil fuels
Melbourne, Friday 15 April 2016 Market Forces is today welcoming the announcement by AustralianSuper – Australia’s largest super fund – to create a new sustainable investment option which excludes companies with fossil fuel reserves. However, the financial activist...
Media Release: Peabody bankruptcy a cautionary tale for Australian investors
Melbourne, Wednesday 13 April 2016 Today’s long-expected bankruptcy announcement by Peabody should serve a cautionary tale to Australian investors still holding fossil fuel stocks, according to financial activist group Market Forces. “Australian investors who held...
Media Release: Reports Future Fund viewed as ‘soft touch’ for Adani Funding
Malcolm Turnbull should rule out Adani subsidy Melbourne, Tuesday 29 March 2016 Financial activist group Market Forces is calling on the Turnbull Government to clarify whether Australia’s sovereign wealth fund – the Future Fund – will be used to subsidise the...
Media release: Banks up to their necks in fossil fuels, putting the climate and their balance sheets at risk
Melbourne, 26 February 2016 Australia's major banks continue to play an integral role in financing the fossil fuel industry, despite commitments to support the goal of limiting global warming to less than two degrees. Market Forces has analysed lending to the fossil...
Media release: Super funds lose billions on fossil fuels as divestment calls mount
NEW REPORT: Super funds lose billions on fossil fuels as divestment calls mount Sydney, 10 February 2016 Report identifies $5.6 billion in losses on fossil fuel stocks Funds lose an average $1109 per member over two years Colonial tops list of poor performers Website...
Media comments: Turnbull Government putting economy, environment at risk with Abbot Point approval
22 December 2015 In response to the news that Environment Minister Greg Hunt has approved the expansion of the Abbot Point coal export terminal, Market Forces Executive Director Julien Vincent said: "It's pretty clear that the Australian Government is prepared to take...
Media Release: Australia’s big four banks commit to 2 degree global warming goal – but which ones mean real action?
5Â November 2015 Market Forces have today welcomed announcements from Commonwealth Bank and NAB that acknowledge the need to limit global warming to less than two degrees, calling on the banks to back up their statements with action that matches this ambition. The...