16 May 2019 In May 2018 it was revealed that French investment bank Rothschild and Co was helping Adani to sell a minority stake in the Abbot Point coal terminal on the North Queensland coast. The terminal would act as the port through which coal from the proposed Carmichael coal … Read More
Super funds obstructing climate action
In the last two weeks, the vast majority of Australia’s super funds have voted on your behalf: These votes have actively obstructed climate action at some of Australia’s biggest companies. It’s not good enough from super funds that are supposed to act in our best interests. Ask your super fund … Read More
Talanx leaves open loopholes to underwrite Vietnamese coal power
10 May 2019 German insurer Talanx announced last month it planned to stop underwriting new coal power plants and coal mines, and envisages that its portfolio would no longer include any coal-fired power plants or coal mines from 2038 onward. While this sounds good on paper, its policy has significant … Read More
General Electric chooses to ignore clean energy transition
10 May 2019 Yesterday in New York at General Electric’s (GE) annual general meeting, (AGM) shareholders called out their CEO, H. Lawrence Culp Jr., for GE’s role in constructing new coal-fired power stations around the world, jeopardizing its own future viability as an energy company and that of our collective … Read More
QBE leaves door open to oil and gas phase out
QBE Insurance faced a barrage of questions as well as a shareholder resolution calling for the company to set targets to phase out its exposure to all fossil fuels at its annual general meeting on 9 May 2019. Although QBE took a big step forward in March when it committed … Read More
Adelaide Brighton: not making concrete commitments to Paris
10 May 2019Australian cement manufacturer Adelaide Brighton’s CEO Nick Miller said today that there are opportunities to align his company’s emission reduction targets with the Paris climate accord, although made no commitments. His statement was in response to a shareholder at the company’s annual general meeting asking if Adelaide Brighton … Read More
Rio Tinto investors baulk at climate risk management
9 May 2019 The vast majority of Rio Tinto’s investors – which includes just about every super fund in Australia – today failed to ensure the company acts to manage down its exposure to climate change risk. A Market Forces-coordinated shareholder resolution was put to Rio Tinto’s annual general meeting … Read More
Caltex – out of line & out of time
Anyone watching the presentation on sustainability at Caltex annual general meeting (AGM) today would think the company, the petroleum brand of Chevron, is earnest about tackling emissions. Chairman Steven Gregg insisted that Caltex is acting in line with the Paris Agreement and taking our global climate emergency seriously. However, a … Read More
Rothschild & Co bank called on to end support for Adani’s massive new coal mine
By Lucie Pinson – Friends of The Earth France, Originally published by Banktrack, 30 April 2019. “Keep coal in the ground!” In the last few years, this climate activist slogan has become a shared position worldwide, based not on beliefs but on facts. If there is still time to prevent runaway … Read More
Woodside CEO admits gas the loser if the world limits warming to 1.5 degrees
In a week where climate change dominated global headlines with the UK Parliament’s declaration of a climate emergency and school strikers taking to the streets in over 500 locations worldwide, corporate Australia was also facing increasing scrutiny on climate change. Woodside’s annual general meeting on Thursday 2 May 2019 in … Read More