Norway’s sovereign wealth fund to pull $138m from Australian coal

29 May 2015 Norway’s parliament reached an agreement overnight that will see it’s sovereign wealth fund divest from companies that derive more than 30% of revenue or business from coal. Worth around $1.15 trillion, the fund is the largest of its type in the world, and this decision signals the greatest win for … Read More

Commbank biggest lender to coal and gas in the Reef

16 May 2015 A lot has changed in the two years since we released our Financing Reef Destruction report, which identified Australia’s big four banks as the leading financiers of fossil fuel projects within the Great Barrier Reef World Heritage Area. Some changes have been for the better, and it is good to reflect on … Read More

Downer’s shares jump on false figures

14 May 2014 Market Forces, represented by lawyers at Environmental Justice Australia, has submitted a complaint to the Australian Stock Exchange (ASX) in response to an allegedly misleading disclosure published by Downer EDI in December last year. Downer had announced to the stock market that Adani had chosen them to construct and … Read More

ANZ heralds end of mining, so why are they still lending to coal?

6 May 2015 ANZ chief executive Mike Smith yesterday warned investors and the wider Australian public that the country must move on from the resources boom. Echoing the widespread expectation that commodities prices will not recover to anywhere near their former lofty heights, Smith highlighted the need to move away … Read More

World Heritage Day – CommBank customers divest!

On Saturday 18 April, we celebrated World Heritage Day in style. Dozens of Commonwealth Bank customers turned out to divest from the bank outed as helping Adani secure finance for its planned mega coal mine and new export terminal in the Great Barrier Reef World Heritage Area. Activists also rebranded … Read More

French banks rule out funding Galilee coal exports!

8 April 2015 Three major French banks have announced they will not fund the mega coal mines proposed in the Galilee Basin, or associated infrastructure such as the new coal export terminals at Abbot Point. BNP Paribas, Societe Generale, and Credit Agricole have issued statements that bring to eleven the … Read More

Societe Generale pulls out of Alpha Coal!

6 December 2014 French bank Societe Generale has withdrawn from the Alpha Coal project after months of sustained campaigning by local groups in France. A short statement was released on the bank’s website and the bank tweeted the announcement: Societe Generale’s position concerning #AlphaCoal project — Société Générale … Read More

India rejects Galilee Basin coal

9 November 2014 Polling has revealed strong opposition from within India to the plans of GVK and Adani to import coal from their proposed Queensland mega-mines. The poll, conducted by Indian market research company AZ Research for Market Forces, found that 69% of people in India don’t support the import … Read More

Divestment Day live Oct 2014!

On the 17th and 18th of October, hundreds of Australians will be turning out to close their accounts in protest of the big banks’ role in funding dirty coal and gas projects. We’ll be tracking events around Australia right here on the live blog so stay tuned! Share on Facebook … Read More