27 October 2021 Whitehaven Coal faced sustained pressure from shareholders at its AGM today over the future of its coal business in a scenario where the world reaches net zero emissions by 2050. Shareholders grilled Whitehaven’s board over the company’s planned coal projects and their incompatibility with the global effort … Read More
Deutsche Bank’s involvement with Whitehaven Coal exposed in German media
23 October 2021 On Friday morning, executives at Deutsche Bank awoke to a half-page advertisement on page 7 of Handelsblatt, a major newspaper popular in Germany’s financial world. The ad, coordinated by Market Forces, exposes Deutsche Bank for reportedly preparing to arrange finance for climate-wrecking coal company Whitehaven Coal. To … Read More
Tell Commbank: net-zero by 2050 = no new fossil fuels
13 October 2021 Commonwealth Bank shareholders are today gathering at the company’s virtual annual general meeting (AGM), where they’ll hold the bank to account for all manner of issues, key among which is Commbank’s continued heavy financing for dirty fossil fuels. In fact, Market Forces supported shareholders to lodge a … Read More
Deutsche Bank prepares to raise funds for Whitehaven
1 October 2021 Financial news source Debtwire reported last week that Deutsche Bank is preparing to raise funds for Whitehaven Coal’s climate-wrecking coal business. Specifically, Debtwire reports that Deutsche Bank organised a “non-deal roadshow” event this week, and intends to act as a bookrunner for any bond issue that emerges … Read More
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 announced on its website that financing had … Read More
Korean lenders rule out Adani!
5 November 2018 Three Korean financial institutions have ruled out investing in the Adani Carmichael coal mine, rail line or Abbot Point coal export terminal, as confirmed in emails to the Wangan and Jagalingou (W&J) Traditional Owners Council. The W&J traditional owners are visiting Korea this week, supported by Market … Read More
EFIC supporting Adani Carmichael
June 2018 Adani has failed to attract private finance to its proposed Carmichael mine and rail project and is becoming increasingly reliant on public funding to proceed. The company has already attempted to use the Northern Australia Infrastructure Facility to secure a publicly-funded loan – this was vetoed by the … Read More
Media release: Fourth major Chinese bank walks away from Adani mega mine
Wednesday 13 December, 2017: China Merchants Bank today provided a statement to environmental finance campaigning group Market Forces, confirming it will have no part in the proposed Adani Carmichael coal mine. The bank replied to a letter outlining an array of concerns with the proposed project and the corporate record … Read More
Chinese banks rule out Carmichael coal mine!
UPDATE: 13 December 2017China Merchants Bank has become the fourth major Chinese bank to categorically rule out lending to the Adani Carmichael project.In a statement issued directly to Market Forces, China Merchants Bank stated: “China Merchants Bank is not, and does not intend to be involved in the Adani Carmichael Mine … Read More
China Construction Bank rules out Adani coal!
One of the world’s biggest banks, the China Construction Bank, has become the 25th to rule out finance for Adani!In a statement received by Market Forces, a spokesperson for China Construction Bank said:”China Construction Bank is not involved with, nor considering involvement with, the Adani Carmichael Mine project.”They elaborated to confirm … Read More