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News
Media release: Singaporean banks blowing smoke on climate
A new analysis from environmental finance group Market Forces shines a light for the first time on Singaporean banks’ continued funding of the coal industry, despite public pronouncements on climate action. Market Forces analysed data relating to the lending activity...
Adani unravels and major institutions dump coal. This was 2017.
[cs_element_section _id="1"][cs_element_row _id="2"][cs_element_column _id="3"]In the nearly five years since Market Forces began, there has not been a more successful and fast-changing year as 2017. Let's take a look at the year that...
Shareholder Action 2017
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ANZ doesn’t intend for coal exposure to increase
19 December 2017 Climate change was a popular topic at ANZ’s annual general meeting (AGM) today in Sydney. Even before the meeting started, shareholders were greeted by Santa and some elves, who were handing out fliers highlighting ANZ’s fossil fuel lending. Inside...
Orica CEO on below 2 degree warming: “it doesn’t seem that the world is heading that way”
15 December 2017 The Annual General Meeting of Orica, one of the world’s largest providers of commercial explosives and blasting systems for mining, was held this morning in Melbourne. The ASX50 company, which is heavily reliant on the coal, oil and gas industries,...
NAB confirms thermal coal ban at AGM
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NAB rules out new thermal coal
[cs_element_section _id="1"][cs_element_row _id="2"][cs_element_column _id="3"]NAB has become the first of Australia’s big four banks to rule out lending to all new thermal coal mines or extensions! The bank’s updated risk appetite...
Media release: NAB’s coal mining exclusion raises the bar for its competitors
14 December 2017 NAB’s new coal mining risk appetite statement goes further than any other major Australian bank by ruling out lending to new thermal coal mines or extensions, according to environmental finance advocates Market Forces. “NAB has lifted the bar above...
Media release: Fourth major Chinese bank walks away from Adani mega mine
Wednesday 13 December, 2017: China Merchants Bank today provided a statement to environmental finance campaigning group Market Forces, confirming it will have no part in the proposed Adani Carmichael coal mine. The bank replied to a letter outlining an array of...