AusNet: no commitment on the UN Task Force

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 degrees, this means the company’s … Read More

Sundance Energy: still ignoring climate risks

04 June 2018 Sundance Energy Australia’s chairman was decidedly upbeat at the fracking firm’s annual general meeting (AGM) held last week in Adelaide on 31 May 2018. ‘This is exciting time for our shareholders,’ proclaimed Mike Hannell. “Strong economic growth and geopolitical risk in Middle East have, at least for … Read More

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 mentioned until question time, and … Read More

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 FY2019 reporting cycle we will continue to evolve … Read More

Sydney Airport – ‘still above water so we’re in good shape’

‘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 current modelling is our company using for this, and … Read More

Oil Search assets – eroded under 2 degrees

11/5/2018 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 concluded the PNG assets, the proposed expansion in PNG and the … Read More

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 Lytton”. See the clip here: … Read More

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 for Murray, an outspoken climate sceptic, during a fiery question-time session in which furious shareholders grilled the board over revelations of … Read More

QBE faces massive shareholder pressure at AGM

Australia’s biggest insurer and fossil fuel underwriter QBE Insurance admits it needs to manage climate change risks much better but rejects shareholder vote for action. 3 May 2018 Today a shareholder resolution calling on QBE to disclose the risks to its business from climate change was backed by 18.6% of … Read More

Did your super fund vote for climate action?

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 the companies they invest in. Well, super funds were given the opportunity to turn this trend around at three recent annual general meetings. Use the form … Read More