Macquarie fails to rule out funding fossil fuel projects incompatible with net zero
29 July 2021 Major Australian financial institution Macquarie was today challenged by shareholders and communities over its support for the oil and gas industry, and inconsistencies between this support and its commitment to net zero emissions by 2050. Just weeks after Macquarie’s commitment to “aligning our financing activity with the … Read More
The Economist invites company building massive new coal mine to present on climate risk
16 November 2020 The Economist Magazine’s Climate Risk Asia Week starting on 30 November includes a number of online events discussing the various aspects of climate risk. The one that particularly caught our attention is the session on Financing Infrastructure, which features none other than the Chief Financial Officer (CFO) … Read More
AGL refuses to wind up coal power in line with Paris goals
7 October 2020 AGL today refused to adopt a shareholder proposal to bring forward the closure of its coal fired power stations in line with the company’s own analysis of closure dates required to meet the Paris Agreement’s 1.5°C warming goal. Big investors, including many of Australia’s super funds supported … 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
Westpac sets thermal coal exit date, re-commits to Paris alignment
4 May, 2020 Westpac’s Climate Change Action Plan Update, released today, is another nail in the coffin for thermal coal, while the seriousness of the bank’s broader commitment to lend in line with the Paris Agreement climate goals will be revealed in time via its oil and gas lending. Westpac … Read More
Massive Sydney mural targets Westpac’s inadequate climate policies
9 March 2020 Market Forces has put up a powerful, 8 metre high mural on Sydney’s Elizabeth St in Surry Hills, targetting Westpac for its funding of coal, oil and gas projects, the industries most responsible for fueling the climate crisis and worsening bushfires. Since committing to the goals of … Read More
Massive Sydney mural targets Westpac’s inadequate climate policies
9 March 2020 Market Forces has put up a powerful, 8 metre high mural on Sydney’s Elizabeth St in Surry Hills, targetting Westpac for its funding of coal, oil and gas projects, the industries most responsible for fueling the climate crisis and worsening bushfires. Since committing to the goals of … Read More
Resource Generation – “dead” without Noble Group’s backing
30 November 2018 Resource Generation (Resgen) has only one asset — a coal mine they want to build in South Africa. They haven’t yet been able to reach financial close for this mine but that was not the only issue raised at their annual general meeting in Brisbane today. India’s … Read More
Financial services giant IOOF all hot air when it comes to climate action
28 November 2018 For a company that openly declared it considers climate risk at its annual general meeting (AGM) today, IOOF has done remarkably little to show how it plans to manage those risks. Earlier this year the financial services giant told shareholders it was a strong supporter of the … Read More