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 these companies, which are both pursuing new oil and … Read More
ANZ fails to rule out funding fossil fuel expansion amidst climate crisis
26 November 2021 ANZ, a bank purportedly committed to net-zero emissions by 2050, today released an updated climate policy that does nothing to prevent it from funding new climate-wrecking oil and gas projects and the companies pursuing them. The policy update comes just months after the International Energy Agency (IEA) … Read More
Investors rebuke NAB over fossil fuel funding at AGM, despite government threats
18 December 2020 As members of the Australian government seek to launch a probe into the legality of banks divesting from fossil fuels, NAB’s annual shareholder meeting saw its investors push for the bank to further limit funding in line with the Paris Agreement. In addition to a shareholder resolution … Read More
ANZ held to account for climate inaction at AGM
16 December 2020 Following the release of a lacklustre update to its climate policy in October, today’s ANZ annual general meeting (AGM) saw the bank’s board held to account for the gap between rhetoric and action on climate change. However, perhaps the bank wasn’t as prepared to bear the weight … Read More
Westpac 2020 AGM: funding climate failure is the ‘sweet spot’
11 December 2020 Westpac’s board knew they would be facing tough questions from shareholders at today’s annual general meeting (AGM) given the banks’ continued funding for Australia’s most climate-destructive companies, including Whitehaven Coal and Santos. The bank’s updated climate policy, released in May, was a step forward as it pledged … Read More
Mineral Resources pursues pathway out of line with 1.5°C
The Mineral Resource board made it clear at yesterday’s annual general meeting (AGM) that they would continue to pursue dirty oil and gas development despite their peer Fortescue Metals announcing a major move into renewable energy and green hydrogen. Mineral Resources is a lithium and iron ore mining company with … Read More
Westpac: a laggard on climate change
12 December 2019 Westpac’s board knew they would be facing fired-up shareholders at today’s annual general meeting (AGM) but perhaps weren’t prepared to bear the weight of responsibility for the impacts on communities and customers fighting the climate crisis. Amid its recent scandals, the board was forced to address the … Read More
Do you pay more tax than the big fossil fuel companies?
For all the environmental and climate destruction wrought by the fossil fuel industry here in Australia and globally, you’d think there must be a significant payback through taxes, right? Well, sadly, there are ways for massive fossil fuel companies to minimise their tax bills in Australia, and these companies are … Read More
Mineral Resources: relying on others to find a solution to the climate crisis
20 November, 2019 Mineral Resources is predominantly an iron-ore miner and mining services company. But the company’s November 2017 acquisition of Energy Resources Pty Ltd means it now holds nine exploration permits for substantial oil and gas projects in the onshore Perth Basin. Today the Mineral Resources board was met … Read More
Senex: company statements on the Paris Agreement are hollow
18 November 2019 Senex, an Australian oil and gas company, states in its annual report that the company “recognises and accepts the science of climate change and fully supports the objectives of limiting global temperate rise as agreed by governments in the 2015 Paris Agreement.” It seems, however, from the … Read More