15 November 2019: NAB’s Sustainability Report, released today, is little more than greenwash and a recipe for climate catastrophe, says environmental finance group Market Forces. In particular, its central announcement to exit thermal coal mining by 2035 is a...
Media Release: Three major banks face shareholder resolutions on climate action
Westpac, NAB and ANZ called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 10 October 2019 Environmental finance organisation Market Forces is today lodging shareholder resolutions with Westpac, NAB and...
Media release: AXIS Capital withdraws from Adani rail line insurance deal
3 October 2019 In a further blow to Adani, US-based insurer AXIS Capital has withdrawn from a bid to insure the construction of the Carmichael rail line.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 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...