ANZ, which claims to be committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today revealed significant increases in the emissions intensity of its power generation portfolio and its overall oil and gas exposure. In FY22, ANZ increased its exposure to upstream oil and gas extraction, … Read More
Oil and gas producers fail to accept net zero means no expansion
15 November 2021 Australia’s oil and gas exploration and production companies are being challenged by shareholders over the incompatibility of their expansions plans with global climate goals. With a number of these companies having held their AGMs recently, a recurring theme to shareholder questioning has been the International Energy Agency’s … Read More
7.4% of shareholders call on Cooper Energy to wind up gas and oil production
12 November 2020 Cooper Energy, a rapidly-growing gas and oil producer focused on the south east Australian market, today faced a shareholder resolution calling on the company to wind up its fossil fuel production in a manner consistent with the Paris climate goals. This ground-breaking proposal, the first of its … Read More
Media release: ANZ to ditch companies without a climate plan
Will this mean it says ‘no’ to a $500m loan to gas company Santos? 9 September 2020 ANZ CEO Shayne Elliot says the bank will drop customers who fail to develop low carbon transition plans. Speaking at ANZ’s 2020 ESG briefing yesterday, Elliot said: “But if we get to a … Read More
Shareholder resolutions call for fossil fuel wind up plans
Market Forces is supporting shareholders to call on companies to demonstrate how they will ‘wind up’ (bring about an end to) coal, oil and gas production over time, protecting money from being wasted on new projects, and supporting workers as the economy rapidly moves on from fossil fuels to meet … Read More
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 is producing coal, oil … Read More
Cooper Energy following 4°C global warming path
7 November 2019 In response to questioning at the company’s annual general meeting today, Cooper Energy confirmed it has “set its future operations against” a 4°C global warming scenario. Cooper’s 2019 Sustainability Report stated the company is developing scenarios to assess climate-related risks and opportunities, which it says are based … Read More
Cooper Energy: receiving funding from ANZ
At the Cooper Energy annual general meeting board members asserted they were conscious of environmental impacts, however they were unable to give specific details about their plans as they weren’t yet formulated. Managing Director, David Maxwell, also announced a drastic change in the company’s asset portfolio from 100% crude oil reserves … Read More