10 September 2020 BHP, one of the 20 largest historical contributors to global greenhouse gas emissions, this afternoon announced targets to reduce its operational emissions by 30% by 2030. This falls short of the ~42% reduction that would be required to align with a...
coal
Media release: Banks betray communities and climate in funding Jawa 9 and 10
17 July 2020 Reacting to the news that a club of banks, led by DBS and including Korea Export Import Bank, Korea Development Bank and Hana Bank, CIMB, Maybank of Malaysia, Bank of China, Bank Mandiri, Bank Negara Indonesia and Exim Bank of Indonesia have signed a 15...
Hesta dumps thermal coal, commits to net-zero portfolio
26 June 2020 $52 billion health industry super fund Hesta today announced it will fully divest from companies deriving more than 15% of revenue from coal that is used for energy generation, known as thermal coal. The fund has also committed to "reducing the absolute...
Matarbari coal power plants: Sumitomo, Japanese companies threaten communities and climate in Bangladesh
UPDATE: June 2022 On 22 June 2022, in a major victory for climate action and years of opposition by a global movement, Japan announced an end to funding of Matarbari Phase 2 coal power plant in Bangladesh. Following the announcement, the Bangladesh Government...
Fossil fuel investments tanking
16 May 2020 The value of Australia’s fossil fuel producers has tanked over the last 10 years, a trend which has been exacerbated during the Covid-19 pandemic. We identified 11 companies in the top 300 listed on the Australian share market (ASX 300) whose sole business...
Marsh and Mercer ignoring staff wishes by continuing Adani coal work
27 April 2020 Insurance broker Marsh has been working with the conglomerate Adani for several years, most recently searching the globe for insurance companies willing to cover the Adani Carmichael coal project construction and operation. With 16 major insurers...
Adani faces debt bill as Abbot Point refinancing fails
15 April 2020 The deteriorating financial state of the Adani Group and its Abbot Point coal export terminal raise serious questions about the ability of Adani to keep using its own money to finance the much-delayed Carmichael coal mine and rail line. Three major debts...
Shareholders fire a shot across NAB’s bow over climate failure
18 December 2019 After record levels of shareholder support for climate risk management resolutions at ANZ and Westpac, it was NAB's turn today to face the music over its failure to adequately manage climate risk. Since the Paris Agreement was signed in 2015, NAB has...
ANZ grilled on climate inaction and secret coal plan
17 December 2019 Coal lending was on the agenda two weeks before ANZ's annual shareholder meeting in Brisbane today, as revelations hit the news that ANZ had a secret plan to slash its thermal coal mining loans by 75% (representing more than $700 million) by 2024. The...
Super funds failing to engage with New Hope on climate risk
19 November 2019 Investor claims of climate risk engagement were again called into question at today's New Hope AGM. As a pure play coal producer with plans to open up a massive new mine, there could hardly be a better example of a company facing climate change risk....