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
Seven Group and Beach Energy dragging their feet on climate disclosure
23 November 2018 Seven Group Holdings has a diverse portfolio that includes industrial services (Coates Hire, CAT dealerships), oil and gas (SGH Energy), and media (41% share in Seven West Media which includes the Seven Network and the West Australian newspaper). Seven Group also has a 29% stake in Beach … Read More
Climate a hot issue at Bluescope Steel’s annual general meeting
23 November 2018 “Our targets are based on the… Australian [emissions] requirement” chairman John Bevan told shareholders at Bluescope Steel’s annual general meeting (AGM) today in Sydney, where climate change was a hot topic. Whilst acknowledging support for the global Paris climate accord, the steel manufacturing giant said its emissions … Read More
Coal companies called out on future viability
22 November 2018 The recent United Nations Intergovernmental Panel on Climate Change (IPCC) report found that a jump from 1.5ºC to 2ºC of warming would mean the death of the Great Barrier Reef, twice as many people worldwide exposed to water stress, and an extra 40,000 people in small island … Read More
Evolution Mining doesn’t apply gold standard to climate risk disclosure
22 November 2018 Evolution Mining is a gold mining company with operations mainly in Queensland and Western Australia. The gold miner scored dismally low in our latest Investing in the Dark research released in August. The company has not: clearly acknowledged the science of climate change considered climate change as a … Read More
“If we’re not reducing emissions then we should be castigated publicly” – Woolworths chairman tells shareholders
21 November 2018 With a slew of climate-related questions and a grilling over labour exploitation practices as well as its gambling operations, the board of retail and consumer staples giant Woolworths clearly felt the pressure at its annual general meeting in Sydney today. Prior to the meeting the Australasian … Read More
Wesfarmers: still keeping investors in the dark
19 November 2018 Earlier this year, Market Forces released its Investing in the Dark research on climate risk disclosure among the top 100 ASX listed companies. Analysis revealed that Wesfarmers has made progress in: acknowledging the science of climate change classifying climate risk as a financial risk considering the risks … Read More
Newcrest Mining confused about its own climate risks
14 November 2018 “Newcrest is not a political party so it doesn’t necessarily take a position on whether the Paris accord is a good idea or a bad idea,” said Peter Hay, chairman of Newcrest Mining, at the company’s annual general meeting yesterday. “It’s up to the Australian people to … Read More
Senex passes the buck on climate change targets
15 November 2018 When it comes to measuring the financial risk of climate change, not much has changed for oil and gas company Senex over the past three years. In 2016 its auditors declared they did not consider climate risk as a financial risk. In 2017 the board still hadn’t … Read More