Update: 10 am, Saturday 17 December 2016 In news breaking this morning, ANZ's CEO Shayne Elliott told media after the AGM that ANZ's coal mining exposure was shrinking and he didn't see a reversal of that trend, effectively ruling out funding for the Adani Carmichael...
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Westpac tests the patience of ethical investors
9 December 2016 Westpac’s ‘clean and green’ image was shattered today at their Annual General Meeting (AGM) in Adelaide. It started outside the venue where a group of young people presented Westpac with a ‘climate hypocrite’ award for their bankrolling of dirty fossil...
Karoon Gas: Reducing our emissions would be a pointless gesture
1 December 2016 Karoon Gas held its AGM in Melbourne yesterday, and confirmed it’s business as usual for the oil and gas explorer, despite its stated support for the Paris Agreement to limit global warming to 2°C above pre-industrial temperatures. The...
Stanmore Coal: Failing to plan or planning to fail?
30 November 2016 Stanmore Coal owns and operates nine coal mining projects in Queensland, including open cut and underground mines, as well as a number of projects in development. Like most pure play fossil fuel companies, Stanmore is in denial about the future of...
IOOF deflect on climate risk
24 November 2016 IOOF is an investment management and financial services company listed in the ASX 100, administering over $130 billion on behalf of its clients. The company offers retail superannuation products, which currently boast almost half a million members....
New Hope Group: bravely struggling against reality
18 November 2016 Queensland coal miner New Hope Group owns the New Acland, West Moreton and Bengalla coal mines. As a pure-play coal miner that’s currently trying to expand its Acland operations, New Hope’s current business model is completely out of step with global...
BHP’s Minerals Council membership touches a nerve
17 November 2016 With operations in over 25 countries, BHP Billiton is one of the world’s largest mining companies. Two years ago the company was rated one of the top twenty most carbon polluting companies. The mining giant has also been involved in several...
AWE & Senex Energy: in deep denial
16 November 2016 Shareholders of AWE Ltd and Senex Energy Ltd gathered for their Annual General Meetings today, in Sydney and Brisbane respectively. While it's a coincidence that their AGMs were held on the same day, there are a number of similarities between the two...
Media release: NAB’s climate change position makes new fossil fuel projects impossible to fund
Melbourne, 14 November 2016 NAB’s climate change position announced today sets it apart from the major banks, but the real proof will be in its future lending decisions, according to environmental finance campaigners Market Forces. The bank’s “Dig Deeper”...
Wesfarmers: not ‘evolving’ quickly enough
11 November 2016 Best known as the parent company of Coles, K-mart, Target, Bunnings and Officeworks, Wesfarmers also owns two open cut coal mines: Curragh in Queensland (100% owned by Wesfarmers) and Bengalla in New South Wales (40% stake). Shareholders attending the...