8 November 2023 This week Westpac announced a host of new project finance restrictions for new and expanded fossil fuel projects, but also walked back a key policy that restricts finance to the companies developing them. In a disappointing regression on its...
New Analysis: Australia’s biggest super funds slash and burn climate action
MEDIA RELEASE Tuesday 31 October, 2023: New analysis by Market Forces reveals Australia’s top 30 superannuation funds have backtracked on their support for climate action at the companies most responsible for expanding fossil fuels worldwide. The research also finds...
Whitehaven shareholders revolt over reckless growth plans
Whitehaven Coal faced a monumental revolt from major investors and community members at its annual general meeting, held in Sydney yesterday. Despite record profits this financial year and a multi-billion dollar growth acquisition, over 40% of the company’s...
Market Forces statement of support following Voice Referendum
Following the week of silence by First Nations organisations and leaders, we recognise the concerns regarding what has been called an ‘unbelievable and appalling’ result in the referendum, denying Aboriginal and Torres Strait Islander Peoples recognition in the...
CommBank avoids resolution, but warned it’s not off the hook on climate action
11 October 2023 Today, Commonwealth Bank faced questions from shareholders over the remaining gaps in its climate policy. This year, Market Forces, along with hundreds of shareholders decided not to file a resolution on climate-related risk at the CommBank AGM. This...
Voice Referendum – Market Forces statement in support of YES vote
Market Forces supports a YES vote in the upcoming referendum to recognise Aboriginal and Torres Strait Islander peoples in the Constitution and establish an Aboriginal and Torres Strait Islander Voice. We also support full implementation of the Uluru Statement from...
Australian and Japanese banks receive warning to stay out of Papua LNG
Wednesday, 27 September 2023 Ahead of TotalEnergies’ Investor Day in France, Australian banks ANZ and NAB and Japanese banks MUFG, SMBC, and Mizuho received letters from Market Forces, Jubilee Australia and Papua New Guinean civil society organisation CELCOR (Center...
Banks and regulators must smell the smoke: Coal is not a transition fuel
OPINION | Binbin Mariana, Energy Finance Campaigner at Market Forces in Jakarta, Indonesia. A former banker, Ms Mariana believes financial institutions have a duty to prevent the climate crisis. Indonesia is at a crossroads on climate change. Extreme disasters are...
Super fund support for Woodside and Santos’ climate-wrecking expansion plans
12 September 2023 Our latest analysis shows members of Australia’s biggest super funds own a significant stake in some of Australia’s worst climate criminals, Woodside and Santos. For the first time, we’ve paired our investment analysis with share voting data to...
New Analysis: Australia’s biggest super fund backs top fossil gas producer
MEDIA RELEASE Tuesday 12 September, 2023: New analysis by Market Forces reveals Australia’s biggest super fund, AustralianSuper, is one of the top five shareholders in the country’s largest oil and gas company, Woodside, increasing to 85 million shares in 2022. The...