On Saturday 16th September, 6:30pm we will be screening the inspiring Guarding the Galilee documentary at Federation Square’s iconic big screen. Right when we need to be urgently phasing out our use of coal, oil and gas to reduce global warming, building a giant new coal mine will only make … Read More
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 for Adani”, said Market Forces executive director Julien … Read More
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 … Read More
AECOM wants to help Adani rip up the Galilee
US-based design, engineering and construction company AECOM has signed a letter of agreement with Adani to provide the design and surveying required for the Carmichael rail line. Use the form to tell AECOM to ditch its plans to help Adani rip up the Galilee Basin, unlock the carbon bomb that … Read More
Investing in the Galilee Basin on the agenda of the QIC
A Market Forces Freedom of Information (FOI) request has revealed that the Queensland Treasury has held talks with Queensland Investment Corporation regarding the prospect of QIC investing in proposed Galilee Basin coal export projects. The request, which was for “records of correspondence between the Queensland Treasury and QIC pertaining to … Read More
Shareholders put climate front and centre
Market Forces is all about empowering community members to hold organisations accountable for their climate and environmental impacts. A major element of this work involves working with shareholders to enable them to raise these issues directly with companies at their annual general meetings (AGMs). In the first half of 2017, … Read More
Media Release: Lack of funders belies Adani’s investment intentions
TUESDAY 6 JUNE, 2017: Adani’s expected ‘investment decision’ concerning its proposed Carmichael mine is little more than a PR stunt, according to environmental finance group Market Forces. With a net debt estimated at $2.5 billion, Adani Enterprises has yet to raise a single cent of the $5 billion required to capitalise … Read More
Revealed: AMP exposed to Adani Abbot Point
11 May 2017 Major Australian financial services company AMP faced intense questioning from concerned shareholders at the company’s annual general meeting in Sydney today after it was revealed AMP Capital has an existing financing relationship with Adani. Adani is the Indian energy giant planning to open up Queensland’s Galilee Basin to … Read More
Media release: Adani’s brand kryptonite: new poll reveals widespread support for Westpac decision to rule out funding
Friday 5 May, 2017: According to a national poll conducted by Essential Research, three times more Australians are in favour of Westpac ruling out funding for Adani’s controversial Carmichael mine proposal than those against. The poll, commissioned by environmental finance group, Market Forces, revealed that 41% of Australians approve of … Read More
