29 October 2020 ANZ’s updated fossil fuel policy, released today, signalled an end to the bank’s involvement in thermal coal, but rewards the most climate-destructive companies and fails to move the needle on oil and gas. In its latest policy update, the bank has said...
coal
Whitehaven Coal stifles debate on world-first proposal to wind down coal production
22 October 2020 Thanks to the efforts of over 100 shareholders, all of Whitehaven Coal's investors were today forced to consider the case for the company to demonstrate how it will wind down coal operations in line with the climate goals of the Paris Agreement....
CommBank fails to gaslight shareholders over its gas lending at 2020 AGM
13 October 2020 Today’s annual general meeting (AGM) heard from Commonwealth Bank shareholders who clearly feel the bank isn’t living up to its climate claims and commitments, especially considering its funding for expansion of the gas industry. Gas lending...
Media Release: ANZ, NAB face shareholder resolutions on climate action
ANZ and NAB called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 1 October 2020 Environmental finance organisation Market Forces is today lodging shareholder resolutions with ANZ and NAB. The resolutions call...
BHP’s new emission targets fail to meet 1.5°C ambition
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...
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...