Macquarie’s slow progress leaves room for gas expansion

25 July 2019 Macquarie Group’s annual general meeting today saw the company face community and shareholder backlash over its advisory role on the huge Rio Grande liquefied natural gas (LNG) project in the United States. While Macquarie has made some good progress on climate risk disclosure this year, the company’s … Read More

Non, merci! Rothschild & Co. walks away from Adani

16 May 2019 In May 2018 it was revealed that French investment bank Rothschild and Co was helping Adani to sell a minority stake in the Abbot Point coal terminal on the North Queensland coast. The terminal would act as the port through which coal from the proposed Carmichael coal … Read More

NAB hauled over the coals at its 2018 AGM

NAB was forced to lay bare its contradictory climate and environmental, social and governance (ESG) policies highlighting the vast discrepancy between what the bank says, and what it does during question-time at its annual general meeting (AGM) in Melbourne.

WIN! Standard Chartered rules out new coal…. everywhere!

25 September 2018 Standard Chartered bank today updated its policy on lending to power generation, ruling out new coal power plants anywhere in the world. It confirmed the bank would no longer directly finance “any new coal-fired power plant projects, including expansions, in any location”. This marks a massive shift … 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

Australian bank policies still lag international peers

The fossil fuel lending policies of Australia’s big four banks have once again been found to fall short of international expectations. In the latest Banking on Climate Change Fossil Fuel Finance Report Card, only NAB’s coal mining policy, announced last year, scored higher than a C-. While it’s worth acknowledging … Read More