12 April 2022 Finally, after years of delay, super funds now have to disclose all their investments. The recent release of this information reveals all of the big super funds are investing members’ money in two of Australia’s most climate-destructive companies, gas...
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Seems financial institutions can divest after all
1 April 2022 The flight of capital from the Russian economy since the invasion of Ukraine has torn many of the finance sector’s arguments against fossil fuel divestment to shreds. In this devastating case of the invasion of Ukraine, investor action has come far too...
Santos’ oil and gas portfolio would halve in value under the IEA’s net zero by 2050 scenario
30 March 2022 Buried on page 40 of Santos’ new Climate Change Report is a damning chart, showing the value of the company’s oil and gas portfolio would drop by around half under the International Energy Agency’s Net Zero by 2050 scenario. Santos projects this fall...
Adani planning to self-fund coal port debt refinancing
22 March 2022 According to a note published on 14 March, Adani has indicated to the Moody’s ratings agency that it is failing to find an external source to refinance the US$500m of bonds maturing in December of this year, issued by its coal port North Queensland...
Hostplus net zero announcement meaningless without immediate action on fossil fuel investments
15 March 2022 Today, Hostplus announced its commitment to a net zero emissions investment portfolio by 2050. However, the fund has failed to announce any near term steps or interim targets towards that goal, and remains a laggard with no policies to cut investments in...
Cbus and Media Super merger: Combined fund must go further on climate action
4 March 2022 Cbus and Media Super announced merger plans last year, and have now set a completion date. However, each fund takes a different approach to climate change, and the question that remains to be answered for members of both funds is this: what will this...
Solidarity with Ukraine, and shame on the institutions investing our money in the invasion
Market Forces stands in solidarity with the people of Ukraine, who have been subjected to a brutal and illegal invasion perpetrated by the Russian military. We are also appalled that the custodians of our money, governments and financial institutions, have used...
Win! Credit Suisse rules out Whitehaven Coal
Climate-wrecking coal company Whitehaven Coal received a $1 billion loan in February 2020 from a group of major banks, including European investment bank Credit Suisse. Late last year, Credit Suisse updated its policy on thermal coal mining, clearly excluding...
Woodside’s climate ‘plan’ full of hot air
17 February 2022 Reacting to Woodside’s Climate Report released today, Market Forces Asset Management Campaigner Will van de Pol said, “Woodside’s three point ‘plan’ to address its gargantuan scope 3 emissions profile amounts to nothing more than more hot air.”...
Super funds still undermining climate goals, despite $1 trillion shift out of coal
15 February 2022 New research from Market Forces reveals every major super fund in the country continues to undermine the Paris Agreement and net zero by 2050 climate goals by investing in companies expanding the scale of the fossil fuel industry. However, the...