5 November 2020 You may have seen the news this week about 25-year-old Brisbane ecologist Mark McVeigh, who won a historic legal battle against his $57 billion super fund, Rest, over climate change. What you may not know is that Mark used Market Forces’ research and tools to start asking … Read More
Bendigo Bank back-pedals on climate scenario analysis
27 October 2020 Bendigo and Adelaide Bank enjoys a lot of kudos for being one of Australia’s medium-sized banks that doesn’t invest in fossil fuels. Thousands of Australians have moved to Bendigo Bank as a result of its position on our banks comparison table. Yet at today’s annual meeting the … Read More
APA quizzed on gas plans inconsistent with the Paris Agreement
22 October 2020 Today’s AGM saw Australia’s biggest gas pipeline company quizzed about its plans to expand gas infrastructure. Plans that are inconsistent with the climate goals of the Paris Agreement. Chairman Michael Fraser sidestepped the revenue question, failing to provide the declines in revenue expected under 1.5°C and instead … Read More
Super funds are slowly moving on climate action – are your retirement savings still invested in climate destruction?
6 October 2020 2020 has seen some significant shifts in how super funds are dealing with climate change and the risks it poses, resulting in hundreds of millions of dollars being withdrawn from some of Australia’s dirtiest companies. Millions more Australians no longer have their retirement savings invested in these … Read More
Bendigo Bank finally supports the Paris Agreement
17 August 2020 Bendigo and Adelaide Bank enjoys a lot of kudos for being one of Australia’s medium-sized banks that doesn’t invest in fossil fuels. Thousands of Australians have moved to Bendigo Bank as a result of its position on our banks comparison table. Yet in the (nearly) five years … Read More
Macquarie fails to commit to coal and gas phase outs
30 July 2020 Major Australian financial institution Macquarie was today challenged over its involvement in the coal and gas industries, and the risks this poses to shareholders, communities and the environment. Macquarie claims its “lending exposures to [the coal] sector are limited and we expect them to run off over … Read More
13 fossil fuel companies named in climate risk complaint
2 March 2020 Market Forces has written to corporate watchdog ASIC to raise concerns about fossil fuel producers’ climate risk disclosures, or lack thereof. Like other financial regulators, ASIC has been stepping up its scrutiny of companies’ disclosure and management of the financial risks posed by climate change. ASIC’s 2018 … Read More
Cue Energy’s empty words on climate change is not enough.
10 December 2019 Cue Energy, an Australian ASX-listed oil and gas company that operates in Australia, New Zealand and south-east Asia, had to fend off numerous climate-related questions at its annual general meeting yesterday in Melbourne. In its annual report, the company states: “(Cue) recognizes that the management of the … Read More
Soul Patts shuts down AGM rather than answer questions on coal and climate change
6 December 2019 Washington H Soul Pattinson went to extraordinary lengths to avoid questions on coal and climate change at its annual general meeting today, pushing all questions to the end of the meeting before shutting the entire AGM down after just a few questions. It’s no surprise that climate … Read More
Oil and gas still a major focus for Karoon Energy
29 November 2019 Karoon Energy has been given plenty of opportunities to provide a credible and evidence-based climate risk management plan, but continues to shirk this responsibility to its shareholders. At Karoon’s 2018 AGM, CEO Robert Hosking claimed “We are at heart environmentalists”. But when asked by shareholders to provide … Read More