The Norwegian government’s decision to tighten the Government Pension Fund Global’s (GPFG) coal exclusion criteria will see the world’s richest sovereign wealth fund withdraw a combined AU$3 billion from AGL, BHP and South32. Take action: Tell your super fund to...
Non, merci! Rothschild & Co. walks away from Adani
16 May 2019 In May 2018 it was revealed that French investment bank Rothschild and Co was helping Adani to sell a minority stake in the Abbot Point coal terminal on the North Queensland coast. The terminal would act as the port through which coal from the proposed...
Rothschild & Co bank called on to end support for Adani’s massive new coal mine
By Lucie Pinson - Friends of The Earth France, Originally published by Banktrack, 30 April 2019. “Keep coal in the ground!” In the last few years, this climate activist slogan has become a shared position worldwide, based not on beliefs but on facts. If there is...
Media release: JBIC and commercial banks shamelessly agree to finance Van Phong 1, despite multiple unresolved issues
19 April 2019 The decision by the Japan Bank for International Cooperation (JBIC) and a consortium of commercial banks to finance the proposed Van Phong 1 coal-fired power station in Vietnam has been branded as shameless and cowardly by clean energy advocates. JBIC...
Media release: OCBC and DBS coal policies a game changer for Asian energy finance
18 April 2019 Responding to the news that OCBC and DBS have, within two days of each other, signalled an end point to financing new coal power stations, Market Forces Executive Director Julien Vincent said: "This week was a major game-changer for energy finance in the...
OCBC bank ends new coal power lending, except for two projects in Vietnam
17 April 2018 OCBC's chief executive officer Samuel Tsien said in an interview earlier this week that OCBC will not fund any more new coal - but will remain in two projects in Vietnam. Subscription news sources suggest these projects are Van Phong 1 and Vung Ang 2....
Suncorp: The last major Australian insurer supporting new coal
11 April, 2019 One of Australia’s biggest insurance companies has ended up being the last major insurer still open to providing insurance to (underwriting) new thermal coal projects. Suncorp, which owns brands AAMI, GIO, APIA and Just Car, was put into this...
CIMIC Group refuses to rule out Adani
11 April 2019 The Adani Carmichael coal mine and rail project is perhaps the most contested mining project in Australian history. An eight-year campaign has seen more than 40 banks and insurance companies worldwide refuse to back it, as have many engineering and...
QBE dumps thermal coal due to global warming
2 April 2019 On Saturday, Australia’s biggest coal underwriter (insurer) took the positive step of committing to phase out its entire thermal coal business by 1 January 2030. QBE also ruled out providing insurance to any new thermal coal mine, power plant or transport...
Media Release: Market Forces welcomes QBE’s end to coal finance
Saturday 30 March, 2019: The announcement today by Australia’s largest insurer, QBE, to end its support for the coal industry has been welcomed by environmental finance group Market Forces. “QBE’s decision to withdraw insurance from the coal industry is business and...