20 September 2018 Today Suncorp demonstrated it has climate change firmly on its agenda and confirmed it continues to divest from fossil fuels. The company is one of Australia’s largest insurance providers, a sector recognised as highly exposed to the physical risks posed by climate change, such as weather-related catastrophes. Earlier this year, … Read More
Macquarie to produce climate risk scenario analysis
26 July 2018 “Risk has always been at the heart of Macquarie”, said Nicholas Moore, managing director and chief executive officer at today’s annual general meeting in Sydney. As part of its risk framework, Macquarie Group will now begin producing a scenario analysis – stress testing the group’s multi-billion dollar … Read More
AusNet: no commitment on the UN Task Force
AusNet own and operate the Victorian electricity transmission network, which is mainly powered by brown coal in the Latrobe Valley. Since Australia needs to keep 95% of its coal in the ground to meet the Paris Agreement’s goal of holding global warming well below two degrees, this means the company’s … Read More
FAR directors change their opinion about climate risk
FAR, an Australian oil and gas exploration company that operates mainly in Senegal, finally accepted the importance of climate change as a business risk at their annual general meeting (AGM) today. This was in sharp contrast to last year’s AGM where the topic was not mentioned until question time, and … Read More
Sydney Airport – ‘still above water so we’re in good shape’
25 May 2018 ‘According to Coastal Risk Australia, sea level rise is expected to flood parts of the Sydney Airport runway. This flooding occurs even in the low scenario, where the expectation is that there would be a worldwide reduction in global emissions. What current modelling is our company using … Read More
Oil Search assets – eroded under 2 degrees
11 May 2018 At the Oil Search annual general meeting today chairman Richard Lee assured shareholders that Oil Search’s assets were safe under 2 degrees of global warming. Speaking about the company’s 2017 Climate Change Resilience Report he explained ‘the analysis concluded the PNG assets, the proposed expansion in PNG … Read More
Caltex proves fossil fuels are incompatible with 2 degrees
Caltex CEO Julian Segal made a perfect case for ditching the company’s fossil fuel-reliant business model yesterday at the company’s Annual General Meeting when he said: “If we were to put a target to reduce emissions by 50%, that would mean closing the refinery at Lytton”. See the clip here: … Read More
Big institutions back Rio Tinto resolution
2 May 2018 A resolution calling on Rio Tinto to publish the payments that it makes to groups lobbying on energy and climate policy, and to review whether such memberships are consistent with Rio’s stated support for emissions reductions, featured prominently at the company’s annual general meeting today. The resolution … Read More
Woodside say they have ‘no stranded assets’
19 April 2018 ‘We don’t believe that we have stranded assets’, said Woodside chairman Michael Chaney when asked about the oil and gas company’s new Scarborough gas field at today’s AGM. Watch the response here: This directly contradicts the findings of UK think tank Carbon Tracker which warned last year … Read More