ANZ, which claims to be committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today revealed significant increases in the emissions intensity of its power generation portfolio and its overall oil and gas exposure. In FY22, ANZ increased...
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Shareholders demand clear transition for major Australian coal company
MEDIA RELEASE Wednesday 26 October: Market Forces and Whitehaven Coal shareholders are calling on the major Australian coal miner to demonstrate how it will wind down its production in line with global climate goals. More than 100 shareholders have joined Market...
More than 20% of Whitehaven shareholders reject climate-wrecking new coal plans
26 October 2022 Whitehaven Coal faced backlash from big investors and community members both inside and outside its annual general meeting, held in Sydney today. Despite record coal prices and company profits, more than a fifth of Whitehaven’s shareholders...
New analysis: Australia’s biggest super funds fractured on fossil gas
MEDIA RELEASE Tuesday 18 October: New analysis by Market Forces reveals some of Australia’s biggest super funds have been selling millions of shares in oil and gas giants Woodside and Santos, while others are investing heavily in these climate-wrecking companies. The...
Big super funds quietly selling down shares in Santos and Woodside
18 October 2022 The latest round of mandatory super fund disclosures reveal that most of Australia’s biggest super funds are selling shares in climate wrecking oil and gas companies Santos and Woodside. Some funds, however, have significantly increased their stake in...
Were your retirement savings used to block climate action?
18 October 2022 Last Wednesday was a very sad day for climate action. Almost 95% of Commonwealth Bank’s shareholders – including our super funds – voted against a critical request for the bank to stop financing new and expansionary fossil fuel projects. We’re...
CommBank chair says companies without transition plans by 2025 “un-bankable” at 2022 AGM
12 October 2022 Today, Commonwealth Bank faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. Despite trying to appear to be acting on climate change,...
Big four Australian banks face shareholder climate backlash at AGMs
MEDIA RELEASE Tuesday 11 October 2022: Shareholder resolutions have been lodged with ANZ, NAB and Westpac calling on the banks to stop financing coal, oil and gas expansion. The resolutions, lodged by hundreds of shareholders and coordinated by environmental...
Coal miners looking to self-insure new climate-wrecking projects
Since 2021, coal miners, including Adani/Bravus, New Hope and Whitehaven, have complained openly of difficulties securing insurance for their destructive activities. 45 major insurers have ruled out any coverage of Adani’s Carmichael coal mine, and according to Insure...
Malaysian banks need to dump coal for a safer climate
OPINION | Nabilla Gunawan, Indonesia Campaigner Everyday, I see thick, grey smog across Jakarta’s skyline. I see this coal pollution that kills people in my city, Jakarta. The climate crisis is much more than a distant concern on the horizon. Millions of people across...