6 December 2014 The decision overnight by French bank Société Générale to withdraw from GVK's Alpha Coal project in Queensland's Galilee Basin underscores the Newman Government's absurdity in planning to dredge the Great Barrier Reef to enable projects that may not...
Blog
India rejects Galilee Basin coal
9 November 2014 Polling has revealed strong opposition from within India to the plans of GVK and Adani to import coal from their proposed Queensland mega-mines. The poll, conducted by Indian market research company AZ Research for Market Forces, found that 69% of...
Divestment Day live Oct 2014!
On the 17th and 18th of October, hundreds of Australians will be turning out to close their accounts in protest of the big banks' role in funding dirty coal and gas projects. We'll be tracking events around Australia right here on the live blog so stay tuned! Share on...
The incredible shrinking coal industry
Market Forces in the media Originally published in RenewEconomy, 13 October 2014 A lot has changed in the last few years. Just a few years ago, with prices of both thermal and coking coal through the roof, it was cigars and caviar time for an industry who were...
Going begging for GVK coal
15 September 2014 Market Forces took pity this morning on GVK, who need to find $560 million by tomorrow as part of their deal to own the Alpha Coal Project, a massive thermal coal mine in Queensland's Galilee Basin. GVK bought Alpha from Hancock Coal in 2011 for $1.2...
Our application to the Westpac Community Leaders Awards
16 August 2014 Westpac recently put a call-out to ask for applications to their Community Leader Awards. We couldn't resist putting in an application! We applied to the Westpac Community Leaders Awards because we believe that Westpac need all the help they can get to...
Funding Abbot Point coal port is a $236 billion divestment risk to banks
If Australia's big banks fund new coal projects in the Great Barrier Reef, it could cost them a big pile of cash. Almost a quarter of a trillion dollars, in fact. A new survey by The Australia Institute for Market Forces found that 11% of customers of the "big four"...
Taya’s divestment checklist
8 July 2014 Taya recently divested from ANZ and wrote out a check-list of step she took. As she notes the journey is not only morally rewarding but also enjoyable! Taya's divestment checklist Investigate my bank's involvement in supporting the fossil fuel industry...
Funding Great Barrier Reef coal a quarter-trillion dollar risk to Aussie banks
Melbourne, 9 July 2014 Australia's biggest banks risk losing customers worth over almost a quarter of a trillion dollars in savings alone if they fund new coal ports in the Great Barrier Reef World Heritage Area, a survey released today has found. The Australia...
The growth of divestment
29 June 2014 This week, the number of people who have put their bank "on notice" (warning that they'll switch banks unless loans to fossil fuel projects stop) grew to account for over $160 million in savings alone. As far as metrics go, it's a pretty good way of...