Seems financial institutions can divest after all

1 April 2022 The flight of capital from the Russian economy since the invasion of Ukraine has torn many of the finance sector’s arguments against fossil fuel divestment to shreds. In this devastating case of the invasion of Ukraine, investor action has come far too late. For years, and especially … Read More

Win! Credit Suisse rules out Whitehaven Coal

The monstrous Maules Creek coal mine, destroying swathes of the Leard State Forest, NSW. Image courtesy of the Lock the Gate Alliance

Climate-wrecking coal company Whitehaven Coal received a $1 billion loan in February 2020 from a group of major banks, including European investment bank Credit Suisse. Late last year, Credit Suisse updated its policy on thermal coal mining, clearly excluding Whitehaven from any further funding. This makes Credit Suisse the first … Read More

NAB: withdraw investment in the Coastal GasLink pipeline

WetWet'suwet'en solidarity - Coastal GasLink pipeline

Despite its commitments to net-zero by 2050 and the Paris Agreement, NAB has continued pumping hundreds of millions of dollars into projects that expand the fossil fuel industry and the companies pursuing them. Last year, it loaned CA$117.5 million to the 670km climate-wrecking Coastal Gaslink pipeline in Canada. Based on … Read More

New legal opinion confirms super funds must manage climate risks

22 April 2021 Released today, a new legal opinion commissioned by Market Forces has confirmed super funds are legally required to understand and manage the material financial risks posed by climate change. The new legal advice from barristers Noel Hutley SC and James Mack builds on a previous opinion they … Read More

AustralianSuper’s new climate policy fails to raise the bar

17 November 2020 AustralianSuper’s new climate change policy has failed to even match, let alone improve on, the standard set by some of its big industry fund peers, disappointing members who were hoping to see the nation’s largest super fund take the lead on climate action. While there are some … Read More

Mark’s historic super fund legal win

5 November 2020 You may have seen the news this week about 25-year-old Brisbane ecologist Mark McVeigh, who won a historic legal battle against his $57 billion super fund, Rest, over climate change. What you may not know is that Mark used Market Forces’ research and tools to start asking … Read More