30 November 2018 Resource Generation (Resgen) has only one asset — a coal mine they want to build in South Africa. They haven’t yet been able to reach financial close for this mine but that was not the only issue raised at their annual general meeting in Brisbane today. India’s … Read More
Armour, Horizon Oil and Norwest: we’re too small to worry about climate action
30 November 2018 Armour Energy, Horizon Oil and Norwest Energy are oil and gas exploration companies with no publicly disclosed policies to address climate risk. According to their latest annual reports Horizon, Armour and Norwest have failed to: accept the science of climate change or acknowledged the aims of the … Read More
Bank of Queensland dismally slow on climate action as catastrophic fires rage around the state
29 November 2018 “We only have $38 million worth of equipment that may be used in environmentally sensitive areas,” Bank of Queensland (BOQ) chairman Roger Davis told the bank’s annual general meeting (AGM) in Brisbane today as fires raged around the state. Davis was referring to the tens of millions … Read More
Financial services giant IOOF all hot air when it comes to climate action
28 November 2018 For a company that openly declared it considers climate risk at its annual general meeting (AGM) today, IOOF has done remarkably little to show how it plans to manage those risks. Earlier this year the financial services giant told shareholders it was a strong supporter of the … Read More
Seven Group and Beach Energy dragging their feet on climate disclosure
23 November 2018 Seven Group Holdings has a diverse portfolio that includes industrial services (Coates Hire, CAT dealerships), oil and gas (SGH Energy), and media (41% share in Seven West Media which includes the Seven Network and the West Australian newspaper). Seven Group also has a 29% stake in Beach … Read More
Climate a hot issue at Bluescope Steel’s annual general meeting
23 November 2018 “Our targets are based on the… Australian [emissions] requirement” chairman John Bevan told shareholders at Bluescope Steel’s annual general meeting (AGM) today in Sydney, where climate change was a hot topic. Whilst acknowledging support for the global Paris climate accord, the steel manufacturing giant said its emissions … Read More
Coal companies called out on future viability
22 November 2018 The recent United Nations Intergovernmental Panel on Climate Change (IPCC) report found that a jump from 1.5ºC to 2ºC of warming would mean the death of the Great Barrier Reef, twice as many people worldwide exposed to water stress, and an extra 40,000 people in small island … Read More
Evolution Mining doesn’t apply gold standard to climate risk disclosure
22 November 2018 Evolution Mining is a gold mining company with operations mainly in Queensland and Western Australia. The gold miner scored dismally low in our latest Investing in the Dark research released in August. The company has not: clearly acknowledged the science of climate change considered climate change as a … Read More
Qube’s climate approach still contains little substance
22 November 2018 Qube is Australia’s largest provider of import and export logistics services, with businesses in ports, bulk, logistics, infrastructure and property. After failing dismally in every aspect of climate related risk disclosure analysed in Market Forces’ latest Investing in the Dark research, Qube appears to finally have recognised the … Read More
“If we’re not reducing emissions then we should be castigated publicly” – Woolworths chairman tells shareholders
21 November 2018 With a slew of climate-related questions and a grilling over labour exploitation practices as well as its gambling operations, the board of retail and consumer staples giant Woolworths clearly felt the pressure at its annual general meeting in Sydney today. Prior to the meeting the Australasian … Read More