Media release: Commbank confirms coal exit

Chairperson Catherine Livingstone will use today’s AGM to confirm Commonwealth Bank’s exit from investment in coal. In a statement submitted to the ASX and soon to be delivered at the AGM, Ms Livingstone says “our coal funding is comparatively small and has been trending down for some time. We expect … Read More

Putting climate and human rights centre stage

Around Australia, shareholders are acting to make companies take climate change and human rights seriously. Super fund members like you can help their cause by telling your fund to vote your retirement savings in favour of resolutions that protect people and planet. Having coordinated support from more than 100 shareholders … Read More

Media Release: Shareholders move to force Commbank to manage climate risk

28 August 2017 Shareholders have lodged a first-of-its-kind resolution with Commonwealth Bank that would embed climate change risk management into its constitution. It comes a month after shareholders began court proceedings against the bank over its failure to consider climate change as a material business risk. The resolution, coordinated by … Read More

Commbank out of Adani but still in deep on fossil fuels

UPDATE: 28 August 2017 Shareholders have lodged a resolution with Commonwealth Bank, proposing that directors should manage the company in line with the goal of holding global warming to less than two degrees. Click here to see Market Forces’ media release about the resolution.  Click here to view the resolution … Read More

Media release: Commbank’s refusal to finance Adani coal mine

Commonwealth Bank’s confirmation that it will not be involved in financing the Carmichael coal mine leaves Adani in the highly improbable position of financing a major Australian project without the support of one of the “big four” banks. “It’s desperate measures now for Adani”, said Market Forces executive director Julien … Read More

Devaluing Australians’ property? CommBank CAN.

9 November 2016 In September, it was reported that a Chinchilla couple were denied a $500,000 bridging loan because their property, which was to be security for the loan, was deemed unacceptable for this purpose. The bank said in an email to the couple that “Long form valuation has revealed 4 coal … Read More