CalSTRS to completely divest from thermal coal, including Whitehaven

CalSTRS, the US$200 billion Californian State Teachers’ Retirement System, has announced it will divest all non-US thermal coal holdings from July 1. The commitment follows the fund’s decision to dump all US thermal coal holdings in December 2015. Here in Australia, the CalSTRS decision will see them sell off their holdings … Read More

Will your super fund vote for or against climate action?

Oil Search and Santos are two of Australia’s largest oil and gas companies – and neither is addressing the risks of climate change. Oil Search is one of the biggest companies operating in Papua New Guinea, a country already feeling the effects of climate change. Sea level rise has forced residents … Read More

IOOF deflect on climate risk

How to Switch Banks and Make it Count

24 November 2016 IOOF is an investment management and financial services company listed in the ASX 100, administering over $130 billion on behalf of its clients. The company offers retail superannuation products, which currently boast almost half a million members. Despite very limited disclosure of portfolio holdings, we know IOOF invests its … Read More

Media Release: Australians hoodwinked by superfunds over multi-million dollar executive fossil fuel exploration bonuses

Melbourne, Thursday 29 September, 2016: A new report released today by environmental finance campaigners Market Forces reveals the multi-million dollar bonuses awarded to Australian and international fossil fuel company executives for expanding reserves which are unburnable under any plausible two degree climate scenario – and the duplicity of superannuation funds … Read More

Media Release: Australians reject super funds’ trillion-dollar secret

Melbourne, Friday 23 September, 2016: According to analysis by environmental finance campaigners Market Forces, 83% of assets under management in Australia’s fifty largest superannuation funds are undisclosed, equating to nearly $1 trillion of assets. The analysis comes as new polling commissioned by Market Forces reveals 86% of Australians believe they … Read More

AustralianSuper makes a start on fossil fuel divestment

This article first appeared on RenewEconomy, 15 April 2016 Australia’s largest superannuation fund – AustralianSuper – has announced that, from next month, it will offer its members an option that will restrict investments in companies with fossil fuel reserves. The decision will see the fund dump between $190m and $235m … Read More

Media Release: Australia’s biggest super fund rejects fossil fuels

Melbourne, Friday 15 April 2016 Market Forces is today welcoming the announcement by AustralianSuper – Australia’s largest super fund – to create a new sustainable investment option which excludes companies with fossil fuel reserves. However, the financial activist group is warning that despite the shift, the vast majority of the … Read More

How could the Future Fund finance Carmichael coal?

This briefing originally appeared on RenewEconomy, 30 March 2016 Could Australia’s sovereign wealth fund be the key source of finance that enables Adani’s Carmichael mega coal mine in the Galilee Basin? News has emerged that India’s Finance Minister, Arun Jaitley, will meet with Finance Minister Mathias Cormann and Chairman of the Future … Read More

How Peabody Energy burned us all

The largest coal miner in the United States, Peabody Energy Corp, on Wednesday revealed in regulatory filings to the Securities and Exchange Commission (SEC) that there were doubts it could continue as a going concern. As such, it may voluntarily seek protection under Chapter 11 – in other words, bankruptcy. … Read More