23 October 2020 Amidst ever-worsening extreme weather and the hits to their bottom lines it is causing, two of Australia’s three big insurers faced shareholders at their annual general meetings this week. Over the last 18 months both have taken significant steps away from supporting coal, oil and gas in … Read More
APA quizzed on gas plans inconsistent with the Paris Agreement
22 October 2020 Today’s AGM saw Australia’s biggest gas pipeline company quizzed about its plans to expand gas infrastructure. Plans that are inconsistent with the climate goals of the Paris Agreement. Just two months ago, 25 leading scientists at Australian universities wrote that, if we’re to achieve the climate goals … Read More
Whitehaven Coal stifles debate on world-first proposal to wind down coal production
22 October 2020 Thanks to the efforts of over 100 shareholders, all of Whitehaven Coal’s investors were today forced to consider the case for the company to demonstrate how it will wind down coal operations in line with the climate goals of the Paris Agreement. However, breaking from norms around … Read More
Origin Energy shuts down Traditional Owner and climate change concerns
20 October 2020 Origin Energy took advantage of the COVID-19 situation to stifle shareholders’ rights to challenge the company at its annual general meeting today. After taking questions from shareholders for less than 40 minutes, Origin Chair Gordon Cairns refused to accept any more questions on Traditional Owner concerns around … Read More
Aurizon AGM: empty new climate strategy and avoiding Adani questions yet again
14 October 2020 Catastrophic climate change Aurizon’s ‘base case’ Aurizon generates around 80% of its revenue from hauling coal. Aside from coal miners themselves, there are few businesses in the country as exposed to the financial risks posed by the rapid transition away from coal required to meet the climate … Read More
BHP shareholders call out climate hypocrisy
14 October 2020 BHP shareholders used the mining giant’s annual general meeting today to call out the glaring inconsistency between BHP’s claimed commitment to the Paris climate goals and its plans to increase fossil fuel production. Last month, BHP set new targets to reduce its operational carbon emissions (known as … Read More
CommBank fails to gaslight shareholders over its gas lending at 2020 AGM
13 October 2020 Today’s annual general meeting (AGM) heard from Commonwealth Bank shareholders who clearly feel the bank isn’t living up to its climate claims and commitments, especially considering its funding for expansion of the gas industry. Gas lending incompatible with the Paris Agreement In August 2019, CommBank committed to … Read More
AGL refuses to wind up coal power in line with Paris goals
7 October 2020 AGL today refused to adopt a shareholder proposal to bring forward the closure of its coal fired power stations in line with the company’s own analysis of closure dates required to meet the Paris Agreement’s 1.5°C warming goal. Big investors, including many of Australia’s super funds supported … Read More
Shareholder resolutions call for fossil fuel wind up plans
Market Forces is supporting shareholders to call on companies to demonstrate how they will ‘wind up’ (bring about an end to) coal, oil and gas production over time, protecting money from being wasted on new projects, and supporting workers as the economy rapidly moves on from fossil fuels to meet … Read More
Macquarie fails to commit to coal and gas phase outs
30 July 2020 Major Australian financial institution Macquarie was today challenged over its involvement in the coal and gas industries, and the risks this poses to shareholders, communities and the environment. Macquarie claims its “lending exposures to [the coal] sector are limited and we expect them to run off over … Read More