15 November 2021 US-headquartered Global Infrastructure Partners (GIP) has entered into a purchase agreement for a 49% stake in Woodside’s planned Pluto Train 2 LNG project. Woodside says the deal is a significant milestone towards a final investment decision on the...
NAB allows itself to continue funding new oil and gas amidst climate crisis
NAB’s updated oil and gas policy, released today, is a greenwashing exercise that allows it to continue funding expansion of the fossil fuel industry. In its latest policy update, the bank made a number of commitments that sound positive, but would have little or no...
NAB told to withdraw net zero commitment following new oil and gas policy
9 November 2021 NAB’s updated oil and gas policy, released today, is a greenwashing exercise that allows it to continue funding expansion of the fossil fuel industry. The new policy (p.43) contains a number of new commitments (emphasis added): A cap on oil and gas...
Bank of New York Mellon backs out of Adani coal deal and resigns from coal port role
8 November 2021 After being outed as part of a potential new funding deal for the Adani Carmichael coal project last month, Bank of New York Mellon (BNY Mellon) has done a full 180-degree turn and announced it will not sign any new contracts with Adani in Australia...
South32 challenged over scope 3 emissions, coal mine plans
28 October 2021 Over the last year, diversified miner South32 has set a target to halve its operational (scope 1 and 2) emissions by 2035 and reach net zero by 2050. However, as a significant metallurgical coal producer, the scope 3 emissions (mostly those generated...
Whitehaven Coal AGM 2021: Board keeps its head in the sand over net zero by 2050
27 October 2021 Whitehaven Coal faced sustained pressure from shareholders at its AGM today over the future of its coal business in a scenario where the world reaches net zero emissions by 2050. Shareholders grilled Whitehaven’s board over the company’s planned coal...
Deutsche Bank’s involvement with Whitehaven Coal exposed in German media
23 October 2021 Share the ad on Deutsche Bank’s social media pages! On Friday morning, executives at Deutsche Bank awoke to a half-page advertisement on page 7 of Handelsblatt, a major newspaper popular in Germany’s financial world. The ad, coordinated by Market...
Narrabri gas plans undermine APA’s net zero claims
21 October 2021 Australia's biggest gas pipeline company, APA, has recently adopted an ambition to reach net zero operational emissions by 2050. It also regularly refers to driving the energy transition to support the Paris climate goals, and a net zero by 2050...
Rio Tinto improves emissions targets, but still lacks measurable scope 3 commitment
20 October 2021 Rio Tinto this afternoon announced improved climate commitments, including: Targets to reduce scope 1 & 2 emissions by 50% by 2030, and 15% by 2025 (from 2018 baseline of 32.6 Mt CO2 equivalent)~$7.5 billion in capital expenditure to decarbonise...
Origin Energy faces shareholder backlash over climate, fracking and Traditional Owner concerns
20 October 2021 Strong opposition to Origin's plans to open up the giant Beetaloo gas basin in the Northern Territory to fracking was voiced by Traditional Owners at the company's AGM today, while votes on shareholder proposals delivered significant investor rebukes...