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

Westpac Carmichael announcement a boost for customers

5 May 2017 A new survey shows that for every Australian that disapproves of Westpac’s policy change that rules out finance for the Carmichael coal mine, three others approve. It also turns out that ruling out Carmichael finance could gain Westpac more customers than they are at risk of losing, making … Read More

QBE supporting Adani!

At their annual general meeting in Sydney, QBE revealed that even though it has not yet been approached to underwrite the Carmichael mega mine, it has an ongoing relationship with the mine’s owner, Adani. The insurer, which operates globally and is a major underwriter of fossil fuel infrastructure, supports Adani’s … Read More

CommBank – Last bank standing on Adani?

Following the great news that Westpac won’t fund the Adani Carmichael coal mine, attention has now turned to Commonwealth Bank, with the question being asked: will CommBank be the last Australian bank standing on Adani? Here’s why we need to be concerned about the prospect of CommBank financing Adani… History … Read More

Analysis: Westpac’s new climate change policy

30 April 2017 The most immediate impact of Westpac’s climate change policy announcement on Friday was that it took them out of the running as a potential lender to the Adani Carmichael coal mine, making Westpac the 19th bank to either distance itself publicly from Galilee Basin coal export projects, … Read More

Media Release: Westpac’s coal exclusion means no funding to Adani coal mine

Brisbane, 28 April 2017 Environmental finance campaigning organisation Market Forces has welcomed the climate change policy update released by Westpac today, which makes the bank the latest to rule out funding Adani’s Carmichael coal mine. The policy tightens the criteria for Westpac’s funding of new thermal coal mines, meaning the bank will … Read More

Media Release: Palaszczuk’s broken promise on QIC Adani trainwreck

Palaszczuk’s broken promise on QIC Adani trainwreck Friday 31 March, 2017: Support to Adani’s rail infrastructure from QIC is in clear breach of Queensland Premier Annastacia Palaszczuk’s election promise not to use public money to prop up the controversial coal project, according to environmental finance group, Market Forces. “QIC, wholly owned by … Read More

Aurizon wants to unlock Galilee coal – Take action!

17 March 2017 Aurizon has applied for a $1.25 billion loan from the Northern Australia Infrastructure Fund (NAIF) to construct the railway link needed to open Queensland’s Galilee Basin to coal mining. And guess what? Your super fund is most likely invested in this company! Click here to take action … Read More