Westpac, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, revealed an 11% increase in FY22 of its overall exposure to fossil fuels, with the increases attributed to customers in the coal rail transportation, LNG terminal, and oil...
Austbrokers under pressure due to Adani coal links
4 November 2022 Austbrokers parent company AUB Group trotted out several classic fossil fuel industry talking points at its annual general meeting (AGM) in Sydney yesterday, in an attempt to justify its work arranging insurance for the climate-wrecking Adani/Bravus...
Shareholders demand clear transition for major Australian coal company
MEDIA RELEASE Wednesday 26 October: Market Forces and Whitehaven Coal shareholders are calling on the major Australian coal miner to demonstrate how it will wind down its production in line with global climate goals. More than 100 shareholders have joined Market...
More than 20% of Whitehaven shareholders reject climate-wrecking new coal plans
26 October 2022 Whitehaven Coal faced backlash from big investors and community members both inside and outside its annual general meeting, held in Sydney today. Despite record coal prices and company profits, more than a fifth of Whitehaven’s shareholders...
Coal miners looking to self-insure new climate-wrecking projects
Since 2021, coal miners, including Adani/Bravus, New Hope and Whitehaven, have complained openly of difficulties securing insurance for their destructive activities. 45 major insurers have ruled out any coverage of Adani’s Carmichael coal mine, and according to Insure...
Malaysian banks need to dump coal for a safer climate
OPINION | Nabilla Gunawan, Indonesia Campaigner Everyday, I see thick, grey smog across Jakarta’s skyline. I see this coal pollution that kills people in my city, Jakarta. The climate crisis is much more than a distant concern on the horizon. Millions of people across...
Words vs. actions: Adani pursuing more new thermal coal projects
08 September 2022 “Today climate change is one of the biggest challenges. Those challenges also open up huge business opportunities. The opportunity in this case is energy transition, the transition from fossil fuels to renewables and to hydrogen.” (Gautam Adani,...
Lockton rejects Adani’s Carmichael coal mine
26 August 2022 Adani continues to face difficulties managing insurance coverage for its climate-wrecking Carmichael thermal coal project. Would-be insurance broker Lockton has revealed to Market Forces that it never signed the letter of appointment it was sent by...
Legal advice says Deutsche Bank breaching own coal policy by financing companies building new coal mines
10 August 2022 As a lender to Whitehaven Coal and Adani Enterprises, both companies investing heavily in expanding thermal coal mining, Deutsche Bank has been a financial institution of concern for some time. However the bank’s 2020 policy on thermal coal mining,...
Westpac: climate change commitments one week, financing climate-wreckers the next?
2 August 2022 Last week, Westpac announced it was joining the Net-Zero Banking Alliance and made some further climate change commitments that still fail to demonstrably align with the Paris Agreement’s goals. As Westpac made the announcement, another part of the...