AusNet own and operate the Victorian electricity transmission network, which is mainly powered by brown coal in the Latrobe Valley. Since Australia needs to keep 95% of its coal in the ground to meet the Paris Agreement’s goal of holding global warming well below two...
News
Adani: No customers, no finance, but still a threat
[cs_content][cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ][cs_text] UPDATE: 18 July 2018 In a television interview overnight, the son of Gautam Adani, Karan, claimed that financial close had been reached for the Carmichael coal...
Adani scrapes the bottom of the barrel to refinance Abbot Point
[cs_content][cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ][x_image type="none" src="https://www.marketforces.org.au/wp-content/uploads/2016/10/Abbot-Point-banner-1500x400-Greenpeace-Tom-Jefferson-1.jpg" alt="" link="false" href="#"...
CSR: no appetite for renewables despite unreliability of coal power
27 June 2018 There was plenty of praise for the Federal government’s fossil fuel-loving policies at the CSR annual general meeting this morning. CSR Limited is a major Australian ASX100 company, supplying building and construction materials across the nation. It owns...
CommBank and NAB fund massive new LNG terminal despite 2°C commitments
8 June 2018 Last week we released our Banks 2° Scorecard 2018, an updated account of how the actions of Australia’s big four banks are tracking (or not) to their stated support of the Paris Agreement goal to limit global warming to well below 2°C, compared with...
Sundance Energy: still ignoring climate risks
04 June 2018 Sundance Energy Australia’s chairman was decidedly upbeat at the fracking firm’s annual general meeting (AGM) held last week in Adelaide on 31 May 2018. ‘This is exciting time for our shareholders,’ proclaimed Mike Hannell. “Strong economic growth and...
Banks 2° Scorecard 2018 update
FAR directors change their opinion about climate risk
FAR, an Australian oil and gas exploration company that operates mainly in Senegal, finally accepted the importance of climate change as a business risk at their annual general meeting (AGM) today. This was in sharp contrast to last year’s AGM where the topic was not...
Macquarie commits to climate risk disclosure
In less than a year Macquarie has moved from not knowing what the Task Force on Climate-related Financial Disclosures (TCFD) was, to committing to adopt all of the Task Force’s recommendations. Yesterday Macquarie published this in its climate change report: “In the...
Sydney Airport – “still above water so we’re in good shape”
25 May 2018 "According to Coastal Risk Australia, sea level rise is expected to flood parts of the Sydney Airport runway. This flooding occurs even in the low scenario, where the expectation is that there would be a worldwide reduction in global emissions. What...