17 July 2020 Reacting to the news that a club of banks, led by DBS and including Korea Export Import Bank, Korea Development Bank and Hana Bank, CIMB, Maybank of Malaysia, Bank of China, Bank Mandiri, Bank Negara Indonesia and Exim Bank of Indonesia have signed a 15...
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Deutsche Bank, Standard Chartered, Barclays and JP Morgan helping Adani Ports raise billions
10 July 2020 Banks that have pledged to not finance the Adani Carmichael coal project could be unintentionally helping to do just that. Media reports this week reveal that Adani Ports and Special Economic Zone (APSEZ), the owner of several ports in India, is aiming to...
The giant stirs. First State Super to divest thermal coal mining
9 July 2020 First State Super today released its new Climate Change Adaptation Plan, with the headlines being that Australia's second biggest superannuation fund would finally start to divest from thermal coal mining companies from October, and would set targets to...
Media release: Fossil fuel lending by Australian banks tops AU$35bn
New Market Forces analysis - Funding Climate Failure Wednesday 8 July, 2020: Despite repeated pledges and policies to the contrary, Australia’s big four banks have once again increased funding to the expansion of the fossil fuel industry over the past year. The...
Australia’s pariah projects: the fossil fuel proposals threatening to bust our climate goals
Australia’s ‘big four’ banks – ANZ, CommBank, NAB and Westpac – have all publicly championed the Paris Agreement. They have also committed to the global goal of net zero emissions by 2050, even though the current state of climate science means we should be aiming for...
Hesta dumps thermal coal, commits to net-zero portfolio
26 June 2020 $52 billion health industry super fund Hesta today announced it will fully divest from companies deriving more than 15% of revenue from coal that is used for energy generation, known as thermal coal. The fund has also committed to "reducing the absolute...
IEA’s ‘sustainable recovery’ document undermines its leader’s climate ambition
19 June 2020 Yesterday the International Energy Agency (IEA), an autonomous policy adviser to the world's governments, released its 'sustainable recovery plan' in response to COVID-19. The plan focused on "quantify[ing] the economic and job-creation potential of...
Adani loses another banker as bushfire survivors call on creditors to walk away
19 June 2020 South African bank Investec has become the 68th major company to rule out involvement in the controversial Adani Carmichael coal project, while also distancing itself from Adani's Abbot Point coal port, despite arranging a bond issue for the port back in...
Liberty Mutual, HDI/Talanx and Aspen revealed as Adani’s insurers
UPDATE 19 June 2020 All four of the insurers named in the article last week as underwriters for the Adani Carmichael project are now out! Aspen has confirmed it will not renew its insurance policies covering the Carmichael coal project. Read the news here. It is not...
Black Lives Matter
On 25 May 2020, African-American man George Floyd was killed by a white police officer who knelt on his neck for nearly nine minutes. The officer’s knee remained on Mr Floyd’s neck long after he had lost consciousness, long after his life had slipped away, and long...