16 May 2015 A lot has changed in the two years since we released our Financing Reef Destruction report, which identified Australia's big four banks as the leading financiers of fossil fuel projects within the Great Barrier Reef World Heritage Area. Some changes have...
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Downer ASX announcement misled investors
Downer ASX announcement misled investors 14 May 2015; Melbourne, Brisbane Market Forces, through their lawyers Environmental Justice Australia, have lodged a complaint with the Australian Stock Exchange alleging that an ASX announcement of Downer EDI Limited contained...
Downer’s shares jump on false figures
14 May 2014 Market Forces, represented by lawyers at Environmental Justice Australia, has submitted a complaint to the Australian Stock Exchange (ASX) in response to an allegedly misleading disclosure published by Downer EDI in December last year. Downer had announced...
ANZ heralds end of mining, so why are they still lending to coal?
6 May 2015 ANZ chief executive Mike Smith yesterday warned investors and the wider Australian public that the country must move on from the resources boom. Echoing the widespread expectation that commodities prices will not recover to anywhere near their former lofty...
World Heritage Day – CommBank customers divest!
On Saturday 18 April, we celebrated World Heritage Day in style. Dozens of Commonwealth Bank customers turned out to divest from the bank outed as helping Adani secure finance for its planned mega coal mine and new export terminal in the Great Barrier Reef World...
Media release: Adani running out of options as French banks’ “no” to Galilee Basin coal
Sydney / Melbourne, 10 pm AEST 8 April 2015 (2 pm Central European Time) The news that three major French banks have committed to not finance proposed coal mines in Queensland’s Galilee Basin is a massive blow to Adani, whose Carmichael mega mine will need billions in...
French banks rule out funding Galilee coal exports!
8 April 2015 Three major French banks have announced they will not fund the mega coal mines proposed in the Galilee Basin, or associated infrastructure such as the new coal export terminals at Abbot Point. BNP Paribas, Societe Generale, and Credit Agricole have issued...
Domenica moves her home loan
In March 2015 Domenica got in touch with Market Forces with the great news that she had finalised switching her $385,000 home loan from NAB to bankmecu. She had been a home loan customer of NAB for nearly 5 years when she found out the extent to which NAB has been...
Australian Government operative leans on US banks for big coal
11 February 2015 Documents released today through Freedom of Information (FoI) reveal that the Former Howard Government Minister Nick Minchin, a self proclaimed climate change ‘sceptic’, has lobbied at least one of the banks in the United States who last year...
Societe Generale pulls out of Alpha Coal!
6 December 2014 French bank Societe Generale has withdrawn from the Alpha Coal project after months of sustained campaigning by local groups in France. A short statement was released on the bank's website and the bank tweeted the announcement: Societe Generale's...