Wednesday, 27 September 2023 Ahead of TotalEnergies’ Investor Day in France, Australian banks ANZ and NAB and Japanese banks MUFG, SMBC, and Mizuho received letters from Market Forces, Jubilee Australia and Papua New Guinean civil society organisation CELCOR (Center for Environmental Law and Community Rights Inc.) calling on the banks … Read More
Super fund support for Woodside and Santos’ climate-wrecking expansion plans
12 September 2023 Our latest analysis shows members of Australia’s biggest super funds own a significant stake in some of Australia’s worst climate criminals, Woodside and Santos. For the first time, we’ve paired our investment analysis with share voting data to identify which super funds are using the retirement savings … Read More
CommBank’s climate policy update leaves ANZ, NAB and Westpac in the dust
9 August 2023 This morning Commonwealth Bank announced a host of new fossil fuel finance restrictions, bringing Australia’s biggest bank closer to alignment with its commitments to the goals of the Paris Agreement and net zero emissions by 2050. Announcing a series of firsts for a major Australian bank, these … Read More
HESTA’s sleight of hand distracting members from the fund’s most climate-damaging investments
14 June 2023 HESTA’s latest climate change report yet again fails to articulate the fund’s expectations of the most climate-damaging companies in its portfolio, including Santos and Woodside. For all its lofty claims of climate action, HESTA continues to invest in companies hell-bent on expanding the fossil fuel sector, has … Read More
HESTA must ramp up the pressure on Santos
13 April 2023 HESTA last week lodged a formal vote calling on oil and gas company Santos to wind up oil and gas production in line with a net zero emissions by 2050 pathway. This is a great sign HESTA is taking members’ concerns seriously, but with Santos still pursuing … Read More
Santos faces Traditional Owner ire, investor demands to manage down expansion plans
6 April 2023 More than 18% of Santos’ shareholders today demanded the company drop its oil and gas expansion plans and instead manage down production in line with a net zero emissions by 2050 pathway at the company’s annual general meeting (AGM) in Adelaide. The company also faced fierce scrutiny … Read More
Australia’s big four banks face human rights complaint over Santos Barossa financing
5 April 2023 Tiwi Islands and Larrakia Traditional Owners have lodged formal complaints alleging the big four Australian banks – ANZ, Commonwealth Bank, NAB and Westpac – and a host of international financiers breached their human rights commitments by participating in a $1.5 billion loan to Santos, related to the … Read More
Australia’s five biggest super funds failing on key climate promises
MEDIA RELEASE Wednesday 15 March, 2023: A new report by Market Forces finds Australia’s five biggest super funds are greenwashing and exposing themselves to legal risk by failing to effectively engage with companies expanding fossil fuels. Managing more than $1 trillion of members’ retirement savings, the five funds analysed in … Read More
Santos shareholders urged to vote against remuneration report on climate grounds
MEDIA RELEASE Thursday 9 March: In an Australian first, a formal statement has been filed on behalf of over 100 shareholders, urging all investors to vote against Santos’ remuneration report on climate risk grounds. Will van de Pol, Acting Executive Director, Market Forces said: “Shareholders are sending a strong message … Read More
Fake dead dolphins delivered to big four banks over Santos oil disaster
MEDIA RELEASE Thursday 23 February 2023: The big four Australian banks – ANZ, Commonwealth Bank, NAB and Westpac – have received a special delivery of ‘dead’ inflatable dolphins for financing oil and gas giant Santos, which allegedly killed marine life in a major oil spill. The dolphins are being delivered … Read More