22 November 2019 Horizon Oil’s cursory approach to climate risk disregards the reality that the Paris Agreement leaves no room for oil expansion. According to its Sustainability Report, Horizon Oil is working towards full implementation of the G20 Task Force on Climate-Related Financial Disclosure (TCFD) recommendations. However, Horizon’s disclosures to … Read More
Bluescope Steel must step up low-carbon ambition
21 November 2019 Bluescope Steel shareholders today called on the company to set new Paris-aligned emission reduction targets to drive low-carbon transition. As one of the top 20 greenhouse gas emitters in Australia, Bluescope Steel is highly exposed to the policy, market and technology shifts required to meet Paris Agreement’s … Read More
Mineral Resources: relying on others to find a solution to the climate crisis
20 November, 2019 Mineral Resources is predominantly an iron-ore miner and mining services company. But the company’s November 2017 acquisition of Energy Resources Pty Ltd means it now holds nine exploration permits for substantial oil and gas projects in the onshore Perth Basin. Today the Mineral Resources board was met … Read More
Seven Group Holdings has no fossil fuel exit plan
20 November 2019 In response to shareholder questioning at Seven Group Holdings’ annual general meeting in Sydney today, Director Terry Davis confirmed the company has no exit plan for its oil and gas businesses. With ownership stakes in a range of businesses and industries, SGH is able – but not … Read More
Super funds failing to engage with New Hope on climate risk
19 November 2019 Investor claims of climate risk engagement were again called into question at today’s New Hope AGM. As a pure play coal producer with plans to open up a massive new mine, there could hardly be a better example of a company facing climate change risk. Meeting the … Read More
Insurance “red zones” spread across Australia. Insurers making it worse
19 November 2019 The number of households whose insurance premiums have become unaffordable is rising at an alarming rate across Australia. This is because of more extreme weather events and rising sea levels, which are linked directly to global warming. Unfortunately, it’s a situation that will only get worse while … Read More
Senex: company statements on the Paris Agreement are hollow
18 November 2019 Senex, an Australian oil and gas company, states in its annual report that the company “recognises and accepts the science of climate change and fully supports the objectives of limiting global temperate rise as agreed by governments in the 2015 Paris Agreement.” It seems, however, from the … Read More
Prairie Mining directors still failing to meet legal obligations
November 18, 2019 Last year, Prairie Mining Ltd chair Ian Middlemas was singled out by the Guardian as a director that may be struggling to understand his legal obligation to consider the risks that climate change poses to the business. Middlemas’ statements at Prairie Mining’s 2018 annual general meeting showed … Read More
Shareholder revolt sees LNG Limited’s Chairman ousted
15 November 2019 LNG Limited shareholders are clearly fed up with the company’s terrible financial performance in recent years, with the company’s share price now sitting at less than 5% of its 2015 peak. Huge protest votes were cast by LNG Limited shareholders regarding all items of business at the … Read More
NAB climate commitments too little, too late
15 November 2019 NAB’s sustainability report, released today, signaled an end to the bank’s involvement in thermal coal mining, but places its exit far later than what is needed to help meet the Paris Agreement climate goals. The commitment to be out of thermal coal by 2035 is five years … Read More
