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...
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6 December 2014 French bank Societe Generale has withdrawn from the Alpha Coal project after months of sustained campaigning by local groups in France.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...
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...
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...
The incredible shrinking coal industry
Market Forces in the media Originally published in RenewEconomy, 13 October 2014 A lot has changed in the last few years. Just a few years ago, with prices of both thermal and coking coal through the roof, it was cigars and caviar time for an industry who were...
Going begging for GVK coal
15 September 2014 Market Forces took pity this morning on GVK, who need to find $560 million by tomorrow as part of their deal to own the Alpha Coal Project, a massive thermal coal mine in Queensland's Galilee Basin. GVK bought Alpha from Hancock Coal in 2011 for $1.2...
Funding Abbot Point coal port is a $236 billion divestment risk to banks
If Australia's big banks fund new coal projects in the Great Barrier Reef, it could cost them a big pile of cash. Almost a quarter of a trillion dollars, in fact. A new survey by The Australia Institute for Market Forces found that 11% of customers of the "big four"...
The growth of divestment
29 June 2014 This week, the number of people who have put their bank "on notice" (warning that they'll switch banks unless loans to fossil fuel projects stop) grew to account for over $160 million in savings alone. As far as metrics go, it's a pretty good way of...
Making your finances fossil free
On 29 May and 3 June 2014, Market Forces, in conjunction with 350.org and the Australia Institute, ran forums in Sydney and Melbourne to release a new report examining how individuals can make their personal finances fossil free. A summary of the report's main...
Deutsche Bank rules out financing Abbot Point coal port expansion
22 May 2014 Deutsche Bank made an important commitment at their annual general meeting that could help us keep many more banks from financing the expansion of coal exports in Australia. Deutsche Bank’s Chairman agreed that the bank would not consider any request to...