Media Release: Australia desperately needs climate risk disclosure recommendations

  29 June 2017 Reacting to the release of the Financial Stability Board’s final recommendations from its Task Force on Climate Change-Related Financial Disclosures (TCFD), Market Forces Analyst Daniel Gocher said: “These recommendations are sorely needed in Australia, which was recently rated by S&P as being one of the highest carbon-exposed markets in … Read More

Shareholders put climate front and centre

Market Forces is all about empowering community members to hold organisations accountable for their climate and environmental impacts. A major element of this work involves working with shareholders to enable them to raise these issues directly with companies at their annual general meetings (AGMs). In the first half of 2017, … Read More

FAR: ‘two degrees is laughable in the extreme’

FAR is an Australian owned oil and gas company which operates in Guinea-Bissau, Kenya, Australia and Senegal, a country already facing severe impacts from climate change. Currently the executive bonuses of FAR are tied to how much oil and gas they find. CEO Catherine Norman receives up to $100,000 per … Read More

Sundance: Not aware of any risks from climate change

  Sundance Energy, the company that had its annual general meeting in Adelaide today, has had a tough run lately. US Secretary of State and former CEO of Exxon Mobil Mr. Tillerson sued them because he alleged that his $5 million property was in danger due to Sundance’s unconventional gas … Read More

Shareholder win! Oil Search commits to climate risk disclosure

19 May 2017 After months of pressure from shareholders, Oil Search confirmed at their AGM today that the company would commit to conduct and release an analysis of how it performs in a scenario where global warming is contained to 2 degrees and 1.5 degrees. The company would also adopt the … Read More

Sino Gas: climate change not a business risk

18 May 2017 Sino Gas is a small Australian owned unconventional gas company which operates in China. Despite the known risks to land, water and human health associated with fracking, the Macquarie Bank has lent to Sino Gas, as have other international banks. Sino Gas held their annual general meeting … Read More

Revealed: AMP exposed to Adani Abbot Point

11 May 2017 Major Australian financial services company AMP faced intense questioning from concerned shareholders at the company’s annual general meeting in Sydney today after it was revealed AMP Capital has an existing financing relationship with Adani. Adani is the Indian energy giant planning to open up Queensland’s Galilee Basin to … Read More

2017 AGM: Rio Tinto ignore community and climate concerns

4 May 2017 Rio Tinto has been taken to task over its slow response to investors’ climate concerns. At the company’s London annual general meeting last year, shareholders passed a resolution calling on the company to disclose their strategy for dealing with the risks of climate change. But Rio is yet to produce the … Read More