Moreland Council asks Vision Super for their divestment plan

12 February 2016 On Wednesday night Moreland City Council in Melbourne voted unanimously to ask Vision Super, the local government employees fund, for their plan for managing climate risk. Vision Super manages around $7 billion, which includes investments in fossil fuel companies. The Council motion recommends that Vision Super put … Read More

Super funds lose $5.6 billion on dirty fossil fuels

9 February 2016 Having analysed the returns of fifteen of Australia’s largest superannuation fund options over the past two years, Market Forces estimate that those options have collectively lost over $5.6 billion on their fossil fuel investments over that time. Our new report Burned details this analysis, and highlights the urgent environmental and moral need … Read More

The polluting power of political donations

1 February 2016 Federal Treasury on Friday published the 2015 Tax Expenditure Statement (TES), which details the cost of all the various tax-based subsidies under current policy. It’s by no means a riveting read, and we wouldn’t recommend you trawl through it yourself. Instead, we’ve put in the hard yards … Read More

Time to tell Australia’s insurers to ditch coal

28 January 2016 Around the world, pressure is building on the insurance industry to divest from fossil fuels, while back home we are ramping up our campaign to stop Australia’s major insurers shooting themselves in the foot by investing in climate change’s drivers. In the latest international development, California’s Insurance Commissioner on … Read More

2015: coal loses, community wins.

21 December 2015 The global coal industry stumbled into 2015 looking pretty peaky. Analysts across the finance sector were increasingly using terms like “structural decline” to describe its state and its future, while the spin-meisters spent a fortune hitting back with a new PR campaign that suggested coal was critical … Read More

Did Vision Super divest on the quiet?

15 December 2015 Early last week, Vision Super posted a press release on their website announcing their commitment to sustainable investment. Vision Super also updated their website, adding a page dedicated to “Sustainable Super” and the calming image of a wind farm on its home page. This was followed by … Read More

Westpac commits to action for “below 2 degrees”

11 December 2015 Westpac has today made a commitment to operate in line with an economy that limits global warming to below two degrees! CEO Brian Hartzer said to hundreds of shareholders in Sydney: Westpac is committed to operating, both directly and indirectly, in a manner consistent with supporting an … Read More

Commbank’s climate credentials don’t make it through Paris

7 December 2015 Well that was short lived! A month ago we were celebrating Commonwealth Bank’s new Group Environment Policy committing the bank to the goal of limiting global warming to less than two degrees. For a moment, it looked like Commbank really got the issue of climate change and were even sticking their necks out … Read More