Adani’s coal port failing to refinance debt, again

7th May 2021 Ratings agency reporting has revealed that Adani’s Abbot Point coal port (recently rebranded to North Queensland Export Terminal – NQXT) has so far failed to secure external financing to repay a US$140 million debt due in September this year. Instead, the debt-ridden port, located in the Great … Read More

99% of Rio Tinto shareholders vote for Paris-aligned emission targets

6 May 2021 99% of Rio Tinto’s investors today voted in favour of a Market Forces-coordinated resolution calling for Paris-aligned emission reduction targets, on the back of a supporting statement which tears the company’s current targets to shreds. The vote came after Rio waved the white flag in the arguments … Read More

QBE’s do-nothing oil and gas policy critiqued at AGM

05 MAY 2021 Today’s QBE annual general meeting (AGM) saw a significant increase in the shareholder vote on a resolution calling for the insurer to set Paris-aligned oil and gas exposure targets, despite the company having attempted to placate investors with a lacklustre policy update in the interim. 21.4% of … Read More

10% of Oil Search shareholders call for fossil fuel wind up plan

30 April 2021 Almost a tenth of Oil Search’s investors today told the Australian stock exchange’s third largest undiversified oil and gas producer to wind up fossil fuel production and return capital to shareholders. The vote for the Market Forces-coordinated shareholder proposal follows votes of 19% and 13% for similar … Read More

New legal opinion confirms super funds must manage climate risks

22 April 2021 Released today, a new legal opinion commissioned by Market Forces has confirmed super funds are legally required to understand and manage the material financial risks posed by climate change. The new legal advice from barristers Noel Hutley SC and James Mack builds on a previous opinion they … Read More

Major banks and pension funds dump Adani Ports amid rising controversy

20 April 2021 Adani Ports and Special Economic Zone (Adani Ports) was dealt a major blow last week when it was removed from S&P’s Dow Jones Sustainability Index after a case was presented to S&P showing Adani Ports’ links to the Myanmar military, thermal coal mining expansion and ecological destruction. … Read More

APLNG seeks massive expansion of polluting gas drilling

Gladstone LNG port development, QLD. Credit: Greenpeace / Tom Jefferson

16 April 2021 Scientists have been clear that meeting the Paris Agreement’s climate goals means no expansion of the polluting gas industry.[1] Yet one of Australia’s largest and most polluting gas export projects, Australia Pacific LNG (APLNG), is seeking approval to drill up to 7,700 new gas wells across central … Read More

Australia Pacific LNG seeks massive expansion of polluting gas drilling

16 April 2021 Scientists have been clear that meeting the Paris Agreement’s climate goals means no expansion of the polluting gas industry.[1] Yet one of Australia’s largest and most polluting gas export projects, Australia Pacific LNG (APLNG), is seeking approval to drill up to 7,700 new gas wells across central … Read More

13% of Santos shareholders demand oil and gas wind up plan

15 April 2021 At today’s Santos annual general meeting, 13% of the company’s shareholders voted against the company’s management and for a Market Forces-coordinated shareholder resolution calling on the company to wind up oil and gas production in line with the climate goals of the Paris Agreement. Speaking after the … Read More