Tuesday 3 May 2022 QBE’s board is facing a confrontation with shareholders at its AGM this Thursday, with a resolution placing its oil and gas policies under the spotlight. The resolution has been co-filed by $6.8bn Australian Ethical and shareholders coordinated by advocacy group Market Forces. Active Super and U … Read More
Corporate Japan faces record number of climate shareholder resolutions
TOKYO, Japan, 13 April 2022 Market Forces, Kiko Network, 350.org Japan, Friends of the Earth Japan, Rainforest Action Network Corporate Japan will this year face a record-high number of climate-focused shareholder resolutions. Today, shareholders announced four climate resolutions targeting SMBC Group, Mitsubishi Corporation, and TEPCO and Chubu Electric, over their … Read More
How much is your super fund investing in climate-wrecking oil and gas companies Woodside and Santos?
12 April 2022 Finally, after years of delay, super funds now have to disclose all their investments. The recent release of this information reveals all of the big super funds are investing members’ money in two of Australia’s most climate-destructive companies, gas giants Woodside and Santos. We have analysed the … Read More
Seems financial institutions can divest after all
1 April 2022 The flight of capital from the Russian economy since the invasion of Ukraine has torn many of the finance sector’s arguments against fossil fuel divestment to shreds. In this devastating case of the invasion of Ukraine, investor action has come far too late. For years, and especially … Read More
Santos’ oil and gas portfolio would halve in value under the IEA’s net zero by 2050 scenario
30 March 2022 Buried on page 40 of Santos’ new Climate Change Report is a damning chart, showing the value of the company’s oil and gas portfolio would drop by around half under the International Energy Agency’s Net Zero by 2050 scenario. Santos projects this fall could be offset by … Read More
Adani planning to self-fund coal port debt refinancing
22 March 2022 According to a note published on 14 March, Adani has indicated to the Moody’s ratings agency that it is failing to find an external source to refinance the US$500m of bonds maturing in December of this year, issued by its coal port North Queensland Export Terminal (or … Read More
Deutsche Bank staff survey 2022
21 March 2022 Thank-you for taking the time to fill out this survey. Its purpose is to understand the views of Deutsche Bank employees regarding the bank’s reported decision to arrange finance for Whitehaven Coal, one of Australia’s most controversial coal mining companies. The survey is anonymous and takes about … Read More
Hostplus net zero announcement meaningless without immediate action on fossil fuel investments
15 March 2022 Today, Hostplus announced its commitment to a net zero emissions investment portfolio by 2050. However, the fund has failed to announce any near term steps or interim targets towards that goal, and remains a laggard with no policies to cut investments in companies expanding the coal, oil … Read More
Will GLAS shatter its reputation on Adani’s coal port?
26 May 2022 In November 2021, after a short and sharp public backlash, the Bank of New York Mellon (BNYM) became the 104th company to cut ties with Adani’s disastrous Carmichael coal project. For many years, BNYM was playing a specialised role as the security trustee for the debt linked … Read More
Cbus and Media Super merger: Combined fund must go further on climate action
4 March 2022 Cbus and Media Super announced merger plans last year, and have now set a completion date. However, each fund takes a different approach to climate change, and the question that remains to be answered for members of both funds is this: what will this merger mean for … Read More