24 September 2018 The world’s foremost medical journal, The Lancet, has called climate change the “biggest global health threat of the 21st Century”. As global warming worsens, doctors, nurses and medical scientists all over the world are raising the alarm over the health impacts of crop failure, the spread of … Read More
Suncorp continues to divest from fossil fuels
20 September 2018 Today Suncorp demonstrated it has climate change firmly on its agenda and confirmed it continues to divest from fossil fuels. The company is one of Australia’s largest insurance providers, a sector recognised as highly exposed to the physical risks posed by climate change, such as weather-related catastrophes. Earlier this year, … Read More
Market Forces files complaint over Japanese banks’ coal lending breach of OECD guidelines
18 September 2018 Market Forces has made complaints against Sumitomo Mitsui Banking Corporation (SMBC), Mizuho Financial Group (Mizuho) and Mitsubishi UFJ Financial Group, Inc. (MUFG) to the Japanese National Contact Point (NCP) today. The complaint alleges that the three banks have breached the OECD Guidelines for Multinational Enterprises (OECD Guidelines) through their conduct … Read More
Adani accused of not paying contractors
17 September 2018 The Australian Financial Review reports today that two companies, AECOM and Jangga Operations, are claiming they are owed money by Adani for work the companies did on the Carmichael coal project. Engineering and design group Aecom is trying to recover almost $17 million it alleges it is … Read More
Who’s coming clean on climate risk?
10 September 2018 If you’ve been following our work closely over the last couple of years, you’ll know we’ve put a lot of effort into forcing companies to come clean on the financial risks they face from climate change. If this is news to you, you may want to have … Read More
Investing in the Dark
Australia’s largest companies are making painfully slow progress towards climate risk disclosure, demonstrating a need for increased action from investors and regulators. Since March, while companies’ reporting on climate risk governance has significantly improved, very little movement has occurred on some of the integral ‘strategy’ elements of climate risk disclosure. The … Read More
The power of finance to slow new coal plants
Market Forces in the media By Julien Vincent, executive director Op-ed in the Asia Times, August 29, 2018 So far, 2018 has seen seven banks dominant in Southeast Asia either release or update their policies related to coal, the single-biggest source of greenhouse-gas emissions worldwide. This number is soon to … Read More
Japanese bank policies rule out one third of overseas coal plant finance
Market Forces in the media RenewEconomy, 28 August 2018 Bernadette Maheandiran, Market Forces Legal Analyst In a major shift from some of the world’s largest funders of coal power, new policies should rule out financial support to a third of the coal-fired power stations currently under consideration by Japan’s three major … Read More
Bloomberg News: These three coal plants might not get Japan funds under new rules
Market Forces in the media By Chisaki Watanabe, Bloomberg News August 28, 2018 Asia, Africa projects fall short of guidelines: Market Forces Japanese banks have committed to funding less coal generation Three coal-fired power plants under consideration in Vietnam, Botswana and Mongolia supported by Japanese banks probably wouldn’t be eligible … Read More
Media release: New Japanese bank policies rule out a third of overseas coal plant finance
28 August 2018: New coal policies should rule out providing financial support to close to a third of the coal-fired power stations (by capacity) currently under consideration by Japan’s three major commercial banks, according to a new analysis released today by environmental finance group Market Forces. In implementing their new … Read More