Commonwealth Bank's confirmation that it will not be involved in financing the Carmichael coal mine leaves Adani in the highly improbable position of financing a major Australian project without the support of one of the "big four" banks. "It's desperate measures now...
coal
WIN! CommBank will not be asked to finance Adani Carmichael
11 August 2017 "We have been asked about our role in funding the Adani Carmichael mine. Whilst in general we do not comment on specific clients, we can confirm that we are not amongst the banks who have been, or will be, asked to consider this financing." That was a...
Media Release: Coal funding dries up but $17bn funneled to fossil fuels by ‘Big Four’ banks since Paris Agreement
 Monday 24 July, 2017: New analysis from environmental finance group Market Forces today reveals Australia’s Big Four banks have lent $17 billion dollars to expand the fossil fuel industry since declaring their commitment to the Paris Climate Agreement of keeping the...
Two degrees scorecard update
In December 2015, the Paris climate talks saw 195 nations agree to limit global warming to well below 2°C, compared with pre-industrial levels. In the lead up to Paris, ANZ, CommBank, NAB and Westpac all publicly championed the two degree limit, committing to support...
AECOM wants to help Adani rip up the Galilee
US-based design, engineering and construction company AECOM has signed a letter of agreement with Adani to provide the design and surveying required for the Carmichael rail line. Use the form to tell AECOM to ditch its plans to help Adani rip up the Galilee Basin,...
Investing in the Galilee Basin on the agenda of the QIC
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CalSTRS to completely divest from thermal coal, including Whitehaven
CalSTRS, the US$200 billion Californian State Teachers' Retirement System, has announced it will divest all non-US thermal coal holdings from July 1. The commitment follows the fund's decision to dump all US thermal coal holdings in December 2015. Here in Australia,...
Media Release: $200 billion US pension fund divests Australian coal. Australian funds should follow.
WEDNESDAY 14 JUNE, 2017: Environmental finance group Market Forces is calling on Australian superfunds and asset managers to follow the example of the second largest pension fund in the US and divest from Australian coal companies such as Whitehaven. Last week, the...
The financial backers of Vietnam’s latest 3 power stations
Reuters is reporting that, with Vietnam's Prime Minister Nguyen Xuan Phuc preparing to visit Japan, licences will be awarded on three proposed new coal-fired power stations that would be heavily backed by Japanese funding. The article does not name the plants, but...
Media Release: Lack of funders belies Adani’s investment intentions
TUESDAY 6 JUNE, 2017: Adani’s expected ‘investment decision’ concerning its proposed Carmichael mine is little more than a PR stunt, according to environmental finance group Market Forces. With a net debt estimated at $2.5 billion, Adani Enterprises has yet to raise a...