IAG: Federal Government is deaf on climate change

20 October 2017 In a week dominated by the Federal Government’s capitulation to the coal lobby in its latest instalment of energy policy failure, it was an opportune time for Australia’s largest general insurer – IAG – to call out the need for tougher action on climate change at their … Read More

Shareholder Action 2017

Market Forces is working with shareholders to put climate change on the agenda of Australia’s biggest companies, and getting some great results. Below are some highlights from annual general meetings held so far in the second half of 2017. We’ll be updating this page as AGM season ramps up throughout … Read More

Investors support stronger climate risk disclosure at Origin Energy AGM

18 October 2017 A shareholder resolution coordinated by Market Forces, calling for improvements to Origin Energy’s climate risk disclosure received significant support from institutional investors, garnering 13.77% of shareholder votes, despite the board’s opposition. In dollar terms, investors holding approximately $1.8 billion in stock supported the call for greater climate … Read More

Aurizon shareholders: How does Adani coal align with 2°C?

18 October 2017 Shareholders today grilled Aurizon over its plans to build a railway that would open up the Galilee Basin to coal mining. The coal haulage company currently has a financing bid before the Northern Australia Infrastructure Facility (NAIF), rivalling Adani’s request for $1 billion to build the rail … Read More

#StopAdani Corporate Villains tour of Melbourne, 1 Nov

We are at an important stage of the #StopAdani Campaign. A cruicial period where Adani is racing against the clock to reach financial close and convince the Australian Government to fund its climate destruction. We are learning more and more about Adani’s shady business dealings, and it’s time to shed … Read More

Westpac out of Adani Abbot Point refinancing?

Westpac CEO Brian Hartzer today confirmed that the bank’s coal lending restrictions would, in theory, apply to restrict finance for infrastructure projects that are directly linked to new coal basin developments. That looks like a pretty good indication that Westpac won’t contribute to a refinancing deal for Adani’s Abbot Point … Read More

Bluescope Steel – still a long way to go on climate risk

How to Switch Banks and Make it Count

11 October 2017 Major energy user Bluescope Steel made the right noises about limiting emissions at the company’s AGM in Melbourne today, but failed to commit to strong climate action. Despite clear evidence that a global transition away from fossil fuels is required to keep warming below 2 degrees, Bluescope … Read More

Stop Adani – National Day of Action and November 1 Tour

10 October 2017 On Saturday concerned citizens around Australia turned out in their thousands to spell it out for the Federal and Queensland governments: the community is strongly against Adani’s Carmichael dirty Galilee Basin coal plans. Market Forces campaigners Matt and Pablo were at the Melbourne event, where over two … Read More

Big banks still supporting Whitehaven’s dirty coal operations

Whitehaven Coal’s Maules Creek mine was recently upgraded to the EPA’s highest environmental risk category, making it one of NSW’s three dirtiest mines. The company is also planning to expand its Vickery coal mine, which the local community is resisting due to grave concerns over environmental impacts. Despite Whitehaven’s appalling … Read More