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"...
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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...
Making your finances fossil free
4 June 2014 Are your personal finances helping to damage the climate? Chances are they are, without you even knowing it. Do you have a bank deposit? Are you a member of a super fund? Do you own shares? If so, your money is probably being used to finance the companies...
Making your finances fossil free
On 29 May and 3 June 2014, Market Forces, in conjunction with 350.org and the Australia Institute, ran forums in Sydney and Melbourne to release a new report examining how individuals can make their personal finances fossil free. A summary of the report's main...
What I did on my “holiday”: European banks won’t fund Abbot Point
27 May 2014 I’m on my way back to Australia and taking stock after a whirlwind tour of France, Germany and the UK, where three major banks were targeted and called on to not fund the Abbot Point coal port expansion in the Great Barrier Reef. I can’t deny that the last...
Deutsche Bank rules out financing Abbot Point coal port expansion
22 May 2014 Deutsche Bank made an important commitment at their annual general meeting that could help us keep many more banks from financing the expansion of coal exports in Australia. Deutsche Bank’s Chairman agreed that the bank would not consider any request to...
Keeping Euros out of dirty coal in Australia
5 May 2014 If we’re going to stop new dirty coal projects getting funded, we need to work both in Australia and internationally. Market Forces is in Europe where, over the next couple of weeks, several banks that are key to new coal export projects in Australia are...
2014 Federal Budget response
Melbourne, 13 May 2014 “This budget is a huge ‘up yours’ to the clean, renewable energy industry, climate change action and environmental protection,” said Market Forces Lead Campaigner Julien Vincent. “If appointing a climate change denier to head the review of the...