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
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
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
Westpac’s new climate policy rules out most new coal mines – including Carmichael!
28 April 2017 After years of pressure from customers, shareholders, environmental groups and the broader community, Westpac has just become the 19th bank around the world to either distance themselves from Galilee Basin coal export projects, or bring in a policy that prohibits lending to new coal mines like Adani’s. … 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
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