HESTA has announced today that it is pushing for its own director nominees to be considered for election at Woodside’s upcoming annual general meeting (AGM). This is an important climate-related escalation from HESTA and a tribute to the countless members who have...
TotalEnergies’ bankers deliver major blow to Papua LNG carbon bomb
Crédit Agricole, Europe’s third largest bank, has delivered a major blow to TotalEnergies this week, declaring it will not finance Total’s proposed Papua Liquefied Natural Gas project (Papua LNG). Despite being the financial advisor to the project, and one of...
Will the funders of Santos’ Barossa project live up to their human rights commitments?
29 January 2023 Australia’s second biggest gas company, Santos, is able to proceed with its $5.7 billion offshore Barossa gas project, following a Federal Court decision earlier this month. Barossa is located in the Timor Sea north of Darwin and the Tiwi...
2023 Coal Season Wrap up
The year 2023 saw the Australian coal industry become increasingly financially ostracised. As the rest of the world transitions away from the dirtiest fossil fuel, coal miners have to look further afield for funding which once came easily. Our movement has put...
Big four banks make strides, but action still dangerously slow in a climate emergency
16 November 2023 All big four Australian banks have now released updated fossil fuel finance restrictions this year that have, to varying degrees, moved the dial on what they can’t finance going forward. But, like everything with the banks – the devil is in the...
NAB commits to future fossil finance restrictions, business as usual for next two years
10 November 2023 Yesterday NAB announced that from 1 October 2025 it will require the majority of fossil fuel companies to have Paris-aligned transition plans in place in order to provide additional lending. From that deadline, to get a corporate or project...
Westpac takes two steps forward, one big step back
8 November 2023 This week Westpac announced a host of new project finance restrictions for new and expanded fossil fuel projects, but also walked back a key policy that restricts finance to the companies developing them. In a disappointing regression on its...
Whitehaven shareholders revolt over reckless growth plans
Whitehaven Coal faced a monumental revolt from major investors and community members at its annual general meeting, held in Sydney yesterday. Despite record profits this financial year and a multi-billion dollar growth acquisition, over 40% of the company’s...
Market Forces statement of support following Voice Referendum
Following the week of silence by First Nations organisations and leaders, we recognise the concerns regarding what has been called an ‘unbelievable and appalling’ result in the referendum, denying Aboriginal and Torres Strait Islander Peoples recognition in the...
CommBank avoids resolution, but warned it’s not off the hook on climate action
11 October 2023 Today, Commonwealth Bank faced questions from shareholders over the remaining gaps in its climate policy. This year, Market Forces, along with hundreds of shareholders decided not to file a resolution on climate-related risk at the CommBank AGM. This...