29 November 2018 Reacting to the news that Adani has decided to self-fund the entirety of its Carmichael coal project, Market Forces Executive Director Julien Vincent said: This is an act of desperation from Adani, which knows the window of opportunity to build its Carmichael mega coal mine is rapidly … Read More
Financial services giant IOOF all hot air when it comes to climate action
28 November 2018 For a company that openly declared it considers climate risk at its annual general meeting (AGM) today, IOOF has done remarkably little to show how it plans to manage those risks. Earlier this year the financial services giant told shareholders it was a strong supporter of the … Read More
Vision Super dumps coal and tar sands
This week industry super fund Vision Super, whose membership is mainly made up of Victorian local government employees, announced that it will begin selling off its thermal coal and tar sands company shares. This positive and responsible move means Vision Super members’ money will no longer be used to fund … Read More
Seven Group and Beach Energy dragging their feet on climate disclosure
23 November 2018 Seven Group Holdings has a diverse portfolio that includes industrial services (Coates Hire, CAT dealerships), oil and gas (SGH Energy), and media (41% share in Seven West Media which includes the Seven Network and the West Australian newspaper). Seven Group also has a 29% stake in Beach … Read More
Climate a hot issue at Bluescope Steel’s annual general meeting
23 November 2018 “Our targets are based on the… Australian [emissions] requirement” chairman John Bevan told shareholders at Bluescope Steel’s annual general meeting (AGM) today in Sydney, where climate change was a hot topic. Whilst acknowledging support for the global Paris climate accord, the steel manufacturing giant said its emissions … Read More
Coal companies called out on future viability
22 November 2018 The recent United Nations Intergovernmental Panel on Climate Change (IPCC) report found that a jump from 1.5ºC to 2ºC of warming would mean the death of the Great Barrier Reef, twice as many people worldwide exposed to water stress, and an extra 40,000 people in small island … Read More
Evolution Mining doesn’t apply gold standard to climate risk disclosure
22 November 2018 Evolution Mining is a gold mining company with operations mainly in Queensland and Western Australia. The gold miner scored dismally low in our latest Investing in the Dark research released in August. The company has not: clearly acknowledged the science of climate change considered climate change as a … Read More
Qube’s climate approach still contains little substance
22 November 2018 Qube is Australia’s largest provider of import and export logistics services, with businesses in ports, bulk, logistics, infrastructure and property. After failing dismally in every aspect of climate related risk disclosure analysed in Market Forces’ latest Investing in the Dark research, Qube appears to finally have recognised the … Read More
“If we’re not reducing emissions then we should be castigated publicly” – Woolworths chairman tells shareholders
21 November 2018 With a slew of climate-related questions and a grilling over labour exploitation practices as well as its gambling operations, the board of retail and consumer staples giant Woolworths clearly felt the pressure at its annual general meeting in Sydney today. Prior to the meeting the Australasian … Read More
Do you own a piece of these dirty fossil fuel projects?
Super funds invest our retirement nest eggs in major infrastructure projects and assets, not just companies. This means you are likely to own a piece of some of the biggest, dirtiest fossil fuels projects on the planet. Market Forces has found widespread investment in fossil fuel infrastructure among Australia’s 50 … Read More