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 to face new shareholder resolution after climate policy fail
Environmental finance group Market Forces will lodge a new shareholder resolution against Commonwealth Bank after its climate change position statement released today fell well short of its publicly-made 2 degree commitments. “Commonwealth Bank is not even pretending to make an effort on climate change with the position statement released today,” … 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
Media Release: Australia’s banks’ $10 billion fossil fuel funding flouts climate pledges
Australia’s banks’ $10 billion fossil fuel funding flouts climate pledges MONDAY 6 MARCH, 2017: New analysis by finance group Market Forces reveals Australia’s ‘big four’ provided almost $10 billion in finance to fossil fuels across the planet in 2016 – three and a half times the amount invested in clean … 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
Poll reveals high expectations for banks to avoid fossil fuels
Share this Post 17 September 2016 A new survey has shown strong support, especially among customers of the major banks, for action to avoid financing fossil fuel projects that damage the environment and worsen climate change. The poll, conducted by Essential Research for Market Forces, asked over 1,000 Australians about their attitudes … Read More
Banks fail 2ºC climate test, pour $5.6b into fossil fuels
3 August 2016 Australia’s big four banks have made a mockery of their ‘two degree’ commitments, pouring $5.6 billion into the fossil fuel sector since the December 2015 Paris climate change agreement. Our latest research shows the banks’ have failed to come anywhere close to meeting their commitments to help hold global … Read More
