WIN! CommBank will not be asked to finance Adani Carmichael

11 August 2017 “We have been asked about our role in funding the Adani Carmichael mine. Whilst in general we do not comment on specific clients, we can confirm that we are not amongst the banks who have been, or will be, asked to consider this financing.” That was a … Read More

Investing in the Galilee Basin on the agenda of the QIC

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

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… No … 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