ANZ confirmed as Australia’s biggest fossil fuel lender New Report highlights gulf between renewable and fossil fuel financing Melbourne, 18 June 2015: A new report from Market Forces shines a light for the first time on Australian banks’ financing of the fossil fuel...
Blog
Funding the Galilee coal mines just got harder
17 June 2015 It has been a privilege to support the Wangan and Jagalingou (W&J) traditional owners of the Galilee Basin to meet with banks across the US and Europe. The meetings were critical opportunities for the W&J to explain how financing Adani's proposed...
Supporting the Wangan and Jagalingou’s fight against Galilee coal
31 May 2015 In trying to build Australia’s biggest coal mine, Adani has not only picked a fight with everyone who values the environment, iconic sites like the Great Barrier Reef, a vision of a safe climate future and a world developing on clean, renewable energy....
Norway’s sovereign wealth fund to pull $138m from Australian coal
29 May 2015 Norway's parliament reached an agreement overnight that will see it's sovereign wealth fund divest from companies that derive more than 30% of revenue or business from coal. Worth around $1.15 trillion, the fund is the largest of its type in the world, and...
Commbank biggest lender to coal and gas in the Reef
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...
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...