Environmental finance group Market Forces will lodge a new shareholder resolution against Commonwealth Bank after its climate change position statement released today fell well short of its publicly-made 2 degree commitments. “Commonwealth Bank is not even pretending...
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Analysis: Commbank’s 2017 climate policy update
Media release: Commbank’s refusal to finance Adani coal mine
Commonwealth Bank's confirmation that it will not be involved in financing the Carmichael coal mine leaves Adani in the highly improbable position of financing a major Australian project without the support of one of the "big four" banks. "It's desperate measures now...
WIN! CommBank will not be asked to finance Adani Carmichael
11 August 2017 "We have been asked about our role in funding the Adani Carmichael mine. Whilst in general we do not comment on specific clients, we can confirm that we are not amongst the banks who have been, or will be, asked to consider this financing." That was a...
Media Release: 82% of Australian super funds at risk of legal action over climate failure
New analysis from environmental finance group Market Forces reveals 82% of Australia’s largest superannuation funds have provided inadequate or no tangible evidence they have considered climate risk in their investment portfolios. According to a new opinion also...
Risky Business: Majority of super funds show no consideration of climate risk
New research from Market Forces shows 82 of Australia's 100 largest superannuation funds disclose inadequate or no tangible evidence that they have considered the impact of climate risk on their investment portfolios, potentially exposing fund trustees to legal risks.
Legal opinion: Fund trustees should consider climate risk
1 August 2017 Market Forces has released a new legal opinion on the extent to which Australian law requires superannuation trustees to consider climate change risks when managing portfolios on behalf of their members. Commissioned by Market Forces, the memorandum of...
Macquarie Chairman “not aware” of TCFD’s climate risk disclosure recommendations
At today's annual general meeting in in Melbourne, Macquarie Group Chairman Peter Warne made the startling admission that he "was not familiar" with the recommendations of the Financial Stability Board’s Task Force on Climate-related Disclosures (TCFD). While the TCFD...
CommBank shareholder complaint
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Media Release: Coal funding dries up but $17bn funneled to fossil fuels by ‘Big Four’ banks since Paris Agreement
 Monday 24 July, 2017: New analysis from environmental finance group Market Forces today reveals Australia’s Big Four banks have lent $17 billion dollars to expand the fossil fuel industry since declaring their commitment to the Paris Climate Agreement of keeping the...