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
Shareholder Action 2017
Market Forces is working with shareholders to put climate change on the agenda of Australia’s biggest companies, and getting some great results. Below are some highlights from annual general meetings held so far in the second half of 2017. We’ll be updating this page as AGM season ramps up throughout … Read More
ANZ doesn’t intend for coal exposure to increase
19 December 2017 Climate change was a popular topic at ANZ’s annual general meeting (AGM) today in Sydney. Even before the meeting started, shareholders were greeted by Santa and some elves, who were handing out fliers highlighting ANZ’s fossil fuel lending. Inside the meeting Chairman David Gonski addressed the issue … Read More
Orica CEO on below 2 degree warming: “it doesn’t seem that the world is heading that way”
15 December 2017 The Annual General Meeting of Orica, one of the world’s largest providers of commercial explosives and blasting systems for mining, was held this morning in Melbourne. The ASX50 company, which is heavily reliant on the coal, oil and gas industries, revealed to shareholders today that climate risk … Read More
Westpac rules out Abbot Point terminal
8 December 2017 Westpac today all but confirmed it would not refinance the Abbot Point coal terminal, striking another blow to the crippled Adani coal mine. Climate related questions dominated the opening of question time at the bank’s annual general meeting in Sydney, revealing a lack of awareness around its … Read More
AWE & Horizon oil- flying blind
24 November 2017 We found out today at their respective annual general meetings that both AWE and Horizon Oil do not classify climate risk as a material business risk, despite both companies’ business models relying on continued fossil fuel exploration and production. Horizon Oil CEO admitted to shareholders that climate … Read More
IOOF’s attitude to climate disclosure: “there’s really not much we can do”
23 November 2017 When asked by shareholders, at today’s annual general meeting, if IOOF would implement recommendations from the the Task Force for Climate Related Financial Disclosures, chairman George Venardos said ‘there’s really not much we can do.’ It is alarming that an ASX 100 company managing more than $143 … Read More
Beach Energy: leaking mercury
23 November 2017 In response to shareholder questioning at today’s Beach Energy AGM in Adelaide, the company’s board confirmed it would consider adopting the Task Force on Climate-related Financial Disclosures (TCFD) recommendations by the end of 2018, noting that much more work needed to be done. Shareholders also asked if … Read More
Armour Energy on climate ‘ We can’t comment on that’
21 November 2017 Oil and gas exploration and production company Armour Energy today failed to define climate change as a material risk to its business, and refused to commit to implementing recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD). At the company’s annual general meeting in Brisbane, … Read More