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...
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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...
Words vs. actions: Adani pursuing more new thermal coal projects
08 September 2022 “Today climate change is one of the biggest challenges. Those challenges also open up huge business opportunities. The opportunity in this case is energy transition, the transition from fossil fuels to renewables and to hydrogen.” (Gautam Adani,...
“How Shareholders Can Promote Corporate Decarbonisation” – address to the Foreign Correspondents’ Club of Japan
On 27 June 2022, Market Forces Executive Director Julien Vincent made an address to the Foreign Correspondents' Club of Japan with a speech titled "How Shareholders Can Promote Corporate Decarbonisation". A recording of the press conference and Julien's introductory...
HESTA asks the impossible of oil and gas producers Woodside, Santos and Origin, rather than divesting
In an attempt to justify continued investment in climate wrecking oil and gas producers Woodside, Santos and Origin, HESTA announced today it had asked the impossible of those companies, requesting they demonstrate how their new or proposed fossil fuel projects fit...
Lockton rejects Adani’s Carmichael coal mine
26 August 2022 Adani continues to face difficulties managing insurance coverage for its climate-wrecking Carmichael thermal coal project. Would-be insurance broker Lockton has revealed to Market Forces that it never signed the letter of appointment it was sent by...
Shareholders demand coal wind down plan from Whitehaven
Media release: 25 August 2022 - For Immediate Release Market Forces and Whitehaven Coal shareholders have filed a resolution, calling on one of Australia’s largest coal miners to wind down its production in line with global climate goals. The resolution points out the...