Coal industry going for super funds

24 March 2014 Well here’s a sign that the coal industry is in trouble. But its going to need a response. The Australian newspaper ran a story that documented the coal industry’s plans to lobby fund managers – including Australian superannuation funds – to stay invested in coal. BHP, Glencore … Read More

Barbara’s ANZ divestment story

13 March 2014 Barbara Thomas from Murwillumbah appeared in the news recently to announce plans to divest from ANZ over their support of the fossil fuel industry, which is threatening the local environment. Barbara and other residents of northern New South Wales will be closing their accounts with the major … Read More

Westpac customers divest!

8 March 2014 At city branches in Melbourne and Sydney today, dozens of Westpac customers turned out to close their accounts in protest over Westpac’s multi-billion dollar support of the fossil fuel industry. Since 2008, Westpac has loaned close to $3 billion to the fossil fuel industry, including projects such … Read More

How to avoid the carbon bubble

5 March 2014 Want to kick fossil fuel companies out of your investments but don’t know how? Worried that excluding fossil fuel companies might harm your financial health? Worry no more. Market Forces and 350.org commissioned The Australia Institute to study how people and institutions holding stocks can divest from … Read More

Cutting Fossil Fuel Subsidies a boon for the budget, reduces pollution

Cutting Fossil Fuel Subsidies a boon for the budget, reduces pollution 27 February 2014 An alliance of Australia’s leading environment and community organisations has today renewed its call for the Australian Government to cut fossil fuel subsidies. The Federal Government currently spends over $10 billion a year on incentives for … Read More

Fossil fuel stocks increase risk, not returns

Fossil fuel stocks increase risk, not returns New report makes the case for divestment by ethical and responsible investors Sydney, 5 March 2014 Investments in coal, oil and gas increase financial risk without increasing returns, according to a new report aimed at Australian investors such as universities, religious groups and … Read More

“Age of Entitlement” alive and well for fossil fuels

Originally posted in RenewEconomy on 3 March 2014 “Age of Entitlement” alive and well for fossil fuels As Australian industries queued up in early 2014 to announce their impending closure, adding tens of thousands to the ranks of the unemployed, Joe Hockey was steadfast. Forget about bailouts from government. “The … Read More

Want to win a sustainability award? Fund climate change.

24 January 2014 Last year it was ANZ being named “best in class” in the Dow Jones Sustainably Index’s banking sector. Then, overnight, Westpac claimed the title of the “world’s most sustainable firm” at the World Economic Forum in Davos. It’s hard to know where to look for answers to … Read More

ANZ’s AGM to remember

18 December 2013 Fossil fuels were top of the agenda at ANZ’s annual general meeting today, to the point where Chairman John Morschel shut down shareholders trying to raise concerns over environmental, reputation and economic risks resulting from ANZ’s investments in the dirty coal and gas industries. The scene had … Read More