Will your super fund vote for or against climate action?

Oil Search and Santos are two of Australia’s largest oil and gas companies – and neither is addressing the risks of climate change. Oil Search is one of the biggest companies operating in Papua New Guinea, a country already feeling the effects of climate change. Sea level rise has forced residents … Read More

Media Release: Santos rejects climate shareholder resolution

Santos rejects climate shareholder resolution Tuesday 4 April, 2017: Environmental finance organisation Market Forces has expressed disappointment that Santos’ management has advised shareholders to reject a resolution calling on the company to acknowledge and assess the risks posed to its business by climate change. The resolution would bring Santos in … Read More

Santos shareholders lodge climate risk resolution

6 March 2017 Market Forces and over 100 individual shareholders have filed a resolution with the oil and gas major, Santos, demanding the company acknowledge and assess the risks posed to its business by climate change. The resolution is the first attempt to enforce the Financial Stability Board’s Task Force on … Read More

Westpac tests the patience of ethical investors

9 December 2016 Westpac’s ‘clean and green’ image was shattered today at their Annual General Meeting (AGM) in Adelaide. It started outside the venue where a group of young people presented Westpac with a ‘climate hypocrite’ award for their bankrolling of dirty fossil fuel projects. The world famous fish ‘Nemo’ … Read More

IOOF deflect on climate risk

How to Switch Banks and Make it Count

24 November 2016 IOOF is an investment management and financial services company listed in the ASX 100, administering over $130 billion on behalf of its clients. The company offers retail superannuation products, which currently boast almost half a million members. Despite very limited disclosure of portfolio holdings, we know IOOF invests its … Read More

IAG: Leading On Climate But More To Be Done

22 October 2016 Exactly one year ago at their 2015 AGM, IAG’s executives seemed genuinely annoyed by questions related to climate change. This was despite the fact that natural disaster claims in 2014/15 were in excess of $1 billion. Clearly the steady increase in the cost of natural disaster claims … Read More

Did Vision Super divest on the quiet?

15 December 2015 Early last week, Vision Super posted a press release on their website announcing their commitment to sustainable investment. Vision Super also updated their website, adding a page dedicated to “Sustainable Super” and the calming image of a wind farm on its home page. This was followed by … Read More

IAG: We Need Climate Leadership

22 October 2015 It dawned on me yesterday at the Insurance Australia Group AGM, just how detached corporate Australia is from reality, when the IAG board became genuinely annoyed by questions related to climate change. If the board of an insurance company does not believe climate change is impacting on its … Read More

How to mismanage climate risk until it hurts

This article first appeared on Renew Economy on 19 October 2015 There’s an old saying that what counts is what gets counted, there’s a less well-known adage that says, what doesn’t get counted can cost you a fortune. The Australian insurance industry is finding out all about that one now because … Read More