Westpac, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, revealed an 11% increase in FY22 of its overall exposure to fossil fuels, with the increases attributed to customers in the coal rail transportation, LNG terminal, and oil...
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Austbrokers under pressure due to Adani coal links
4 November 2022 Austbrokers parent company AUB Group trotted out several classic fossil fuel industry talking points at its annual general meeting (AGM) in Sydney yesterday, in an attempt to justify its work arranging insurance for the climate-wrecking Adani/Bravus...
ANZ missing its own climate mark
ANZ, which claims to be committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today revealed significant increases in the emissions intensity of its power generation portfolio and its overall oil and gas exposure. In FY22, ANZ increased...
More than 20% of Whitehaven shareholders reject climate-wrecking new coal plans
26 October 2022 Whitehaven Coal faced backlash from big investors and community members both inside and outside its annual general meeting, held in Sydney today. Despite record coal prices and company profits, more than a fifth of Whitehaven’s shareholders...
Big super funds quietly selling down shares in Santos and Woodside
18 October 2022 The latest round of mandatory super fund disclosures reveal that most of Australia’s biggest super funds are selling shares in climate wrecking oil and gas companies Santos and Woodside. Some funds, however, have significantly increased their stake in...
Were your retirement savings used to block climate action?
18 October 2022 Last Wednesday was a very sad day for climate action. Almost 95% of Commonwealth Bank’s shareholders – including our super funds – voted against a critical request for the bank to stop financing new and expansionary fossil fuel projects. We’re...
Coal miners looking to self-insure new climate-wrecking projects
Since 2021, coal miners, including Adani/Bravus, New Hope and Whitehaven, have complained openly of difficulties securing insurance for their destructive activities. 45 major insurers have ruled out any coverage of Adani’s Carmichael coal mine, and according to Insure...
NAB refinances the climate-wrecking Coastal GasLink pipeline
NAB has once again failed to match its rhetoric and commitments on climate change with real action, refinancing a new gas pipeline project in Canada. At its 2021 annual general meeting (AGM) NAB Chairman Phil Chronican told shareholders and Traditional Owners that its...
UniSuper climate report is hot air and poor action
MEDIA RELEASE Wednesday 14 September: UniSuper’s new climate risk report reveals the mega fund has continued quietly selling down its investments in Australia's largest gas producer, Woodside, and to a lesser extent, fellow climate-wrecking oil and gas expander,...
UniSuper’s slow, quiet progress on fossil fuel divestment not good enough
UniSuper’s new climate risk report suggests the fund has continued quietly selling down its investments in Australia's largest gas producer, Woodside, and to a lesser extent, fellow climate-wrecking oil and gas expander, Santos. Despite mergers and share price changes...