AusNet: no commitment on the UN Task Force

AusNet own and operate the Victorian electricity transmission network, which is mainly powered by brown coal in the Latrobe Valley. Since Australia needs to keep 95% of its coal in the ground to meet the Paris Agreement’s goal of holding global warming well below two degrees, this means the company’s … Read More

Adani: No customers, no finance, but still a threat

In a television interview overnight, the son of Gautam Adani, Karan, claimed that financial close had been reached for the Carmichael coal mine. We need to treat this information carefully. On one hand, it was part of an interview containing several other inaccuracies about the status of the Carmichael mine’s … Read More

Risks all round from Adani’s Abbot Point sale plans

23 May 2018. Adani’s plans to sell down their stake in the Abbot Point coal export terminal, with the assistance of investment bank Rothschild, are a win for the Carmichael mega mine project and a clear threat to the campaign to stop it, say environmental finance advocates Market Forces (“Adani looks … Read More

Big institutions back Rio Tinto resolution

2 May 2018 A resolution calling on Rio Tinto to publish the payments that it makes to groups lobbying on energy and climate policy, and to review whether such memberships are consistent with Rio’s stated support for emissions reductions, featured prominently at the company’s annual general meeting today.  The resolution … Read More

ANZ finance the purchase of Rio’s last coal mine

5 April 2018 ANZ has contributed to a US$1.7 billion (AU$2.2 b) deal to finance the purchase of Rio Tinto’s last coal asset by Indonesian coal miner Adaro Energy and private equity manager EMR Capital. The deal comes despite ANZ’s repeated claims that the bank’s lending to coal is on its way … Read More

AECOM cancels grad outreach to avoid Adani questions

Wednesday 21 March, 2018 US-based engineering and design firm AECOM has cancelled most of their graduate outreach program to avoid facing questions and protests regarding their work on the Adani Carmichael coal project railway line. Of the 19 graduate career information or networking sessions scheduled for this month across Australia, … Read More

Media release: AECOM cancels graduate outreach as #StopAdani protests mount

Tuesday 20 March, 2018: US-based engineering and design firm AECOM’s graduate outreach program has been thrown into disarray, with protests and cancellations impacting most events. Of the 16 Graduate Career Information Sessions scheduled this month, eight have been cancelled and another five have faced protests, with questions on Adani and … Read More

EFIC supporting Adani Carmichael

Adani has failed to attract private finance to its proposed Carmichael mine and rail project, becoming increasingly reliant on public funding to proceed. The company has already attempted to use the Northern Australia Infrastructure Facility to secure a publicly-funded loan – this was vetoed by the Queensland Government in 2017. … Read More

AECOM: “Like a dentist handing out candy”

It’s getting lonely for Adani in their destructive quest to build the Carmichael coal mine and railway line. Twenty-eight major banks across four continents have now stated they will not lend money to the project. Adani’s construction partner Downer EDI has walked away. Most recently, Aurizon, Australia’s most experienced coal … Read More