Magellan Financial Group's (MFG) deputy investment officer Dominico Giuliano recently made statements in the media about the need for accurate climate risk disclosure. At its annual general meeting (AGM) today, however, the company seemed to think that climate change...
Meeting Paris Agreement goals is not a matter for ASX board
4 October 2018 With its high proportion of coal and gas producers, the ASX All Australian 50 index has been rated the most exposed market to potential stranded [fossil fuel] assets. These are coal, oil and gas reserves that cannot be burnt if we want to stay well...
World first legal case alleges REST breached duties over climate risk
[cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ]Remember Mark McVeigh, the 23 year old taking his super fund to court over climate change risk? Well Mark has just taken his action to the next level....
AGL reaffirms closing Liddell coal-fired power station by 2022
26 September 2018 Today energy giant AGL faced angry community representatives and shareholders at its annual general meeting (AGM) in Melbourne. Most of question time was taken up by the Western Port community voicing their concerns over Crib Point, with the board...
Who’s coming clean on climate risk?
[cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ]10 September 2018 If you've been following our work closely over the last couple of years, you'll know we've put a lot of effort into forcing companies to...
Investing in the Dark
Australia’s largest companies are making painfully slow progress towards climate risk disclosure, demonstrating a need for increased action from investors and regulators. Since March, while companies’ reporting on climate risk governance has significantly...
Whitehaven Coal told: get aligned with 2 degrees!
13 August 2018 A shareholder resolution has been lodged with Whitehaven Coal, calling on the company to disclose the risks it faces from climate change and align its strategy with a scenario that holds global warming to less than two degrees. The resolution was signed...
Take action: What is your super fund doing to manage climate risk?
[cs_element_section _id="1" ][cs_element_row _id="2" ][cs_element_column _id="3" ]You may have already heard about Mark McVeigh, a 23 year old Brisbane ecologist who is suing one of Australia’s biggest super funds, REST, over the fund’s...
It’s about time super funds came clean on climate
By Julien Vincent, Executive director, Market Forces Sydney Morning Herald/Age, 2 August 2018. 2 August 2018 Transparency has never been superannuation industry’s strong suit. Despite super being one of the biggest investments Australians make over their lifetimes,...
Macquarie to produce climate risk scenario analysis
26 July 2018 “Risk has always been at the heart of Macquarie”, said Nicholas Moore, managing director and chief executive officer at today’s annual general meeting in Sydney. As part of its risk framework, Macquarie Group will now begin producing a scenario analysis...