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 Carmichael coal project. This makes it the 28th insurer to publicly make this … Read More
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 Market Forces, will be voted on at the banks’ annual … Read More
NAB mealy-mouthed on 2030 thermal coal exit
Thursday 5 November 2020: NAB’s full year results presentation released today reveals the bank is “expected” to exit thermal coal mining by 2030, five years earlier than its inadequate official commitment to exit by 2035. NAB’s announcement last year that it would exit thermal coal mining by 2035 drew widespread … Read More
ANZ to exit thermal coal by 2030. Though funding continues for fossil fuel expansion.
29 October 2020 Today ANZ released new and updated coal policies as part of its full year results, promising to exit thermal coal by 2030 and immediately stop funding new thermal coal mines and coal-fired power stations. This means no major Australian bank or insurer is willing to back thermal … Read More
Media release: Whitehaven faces world-first resolution to wind down its coal operations
22 October 2020 – For immediate release Institutional investors will today vote on a world first shareholder resolution, calling on Whitehaven Coal to demonstrate how it will wind down coal operations in line with global climate change targets. The resolution, which will be put to Whitehaven Coal’s AGM today, challenges … Read More
Media Release: ANZ, NAB face shareholder resolutions on climate action
ANZ and NAB called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 1 October 2020 Environmental finance organisation Market Forces is today lodging shareholder resolutions with ANZ and NAB. The resolutions call for a reduction in exposure to the fossil fuel … Read More
Media release: ANZ to ditch companies without a climate plan
Will this mean it says ‘no’ to a $500m loan to gas company Santos? 9 September 2020 ANZ CEO Shayne Elliot says the bank will drop customers who fail to develop low carbon transition plans. Speaking at ANZ’s 2020 ESG briefing yesterday, Elliot said: “But if we get to a … Read More
Media release: Suncorp rules itself out of Government’s gas push
For immediate release, 21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government’s gas expansion plans, with an updated policy released today that bans the major Australia-based insurance company from investing in, financing and insuring new and additional oil and … Read More
Media release: Banks betray communities and climate in funding Jawa 9 and 10
17 July 2020 Reacting to the news that a club of banks, led by DBS and including Korea Export Import Bank, Korea Development Bank and Hana Bank, CIMB, Maybank of Malaysia, Bank of China, Bank Mandiri, Bank Negara Indonesia and Exim Bank of Indonesia have signed a 15 year loan … Read More
Media release: Fossil fuel lending by Australian banks tops AU$35bn
New Market Forces analysis – Funding Climate Failure Wednesday 8 July, 2020: Despite repeated pledges and policies to the contrary, Australia’s big four banks have once again increased funding to the expansion of the fossil fuel industry over the past year. The figures mean fossil fuel lending has topped $35.5 … Read More