AusNet own and operate the Victorian electricity transmission network, which is mainly powered by brown coal in the Latrobe Valley. Since Australia needs to keep 95% of its coal in the ground to meet the Paris Agreement’s goal of holding global warming well below two...
climate change
CommBank and NAB fund massive new LNG terminal despite 2°C commitments
8 June 2018 Last week we released our Banks 2° Scorecard 2018, an updated account of how the actions of Australia’s big four banks are tracking (or not) to their stated support of the Paris Agreement goal to limit global warming to well below 2°C, compared with...
FAR directors change their opinion about climate risk
FAR, an Australian oil and gas exploration company that operates mainly in Senegal, finally accepted the importance of climate change as a business risk at their annual general meeting (AGM) today. This was in sharp contrast to last year’s AGM where the topic was not...
Macquarie commits to climate risk disclosure
In less than a year Macquarie has moved from not knowing what the Task Force on Climate-related Financial Disclosures (TCFD) was, to committing to adopt all of the Task Force’s recommendations. Yesterday Macquarie published this in its climate change report: “In the...
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...
Oil Search assets – eroded under 2 degrees
11 May 2018 At the Oil Search annual general meeting today chairman Richard Lee assured shareholders that Oil Search’s assets were safe under 2 degrees of global warming. Speaking about the company’s 2017 Climate Change Resilience Report he explained ‘the analysis...
Caltex proves fossil fuels are incompatible with 2 degrees
Caltex CEO Julian Segal made a perfect case for ditching the company’s fossil fuel-reliant business model yesterday at the company’s Annual General Meeting when he said: “If we were to put a target to reduce emissions by 50%, that would mean closing the refinery at...
Embattled AMP stands firm over new climate denier chairman
10 May 2018 Acting AMP chief executive Mike Wilkins today dismissed deep concern over incoming chairman David Murray’s controversial views on climate change at the financial services company’s annual general meeting (AGM) in Melbourne. Wilkins affirmed his backing...
AMP appoints climate change denier as chairman
[cs_content][cs_element_section _id="1"][cs_element_row _id="2"][cs_element_column _id="3"][cs_text]The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has seen heads roll at AMP, with both the Chair Catherine Brenner...
Did your super fund vote for climate action?
[cs_content][cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ][cs_text _order="0"]You may have seen our recent research revealing that the vast majority of Australia's biggest super funds are regularly voting against climate action at...