MEDIA RELEASE Thursday 24 November: New Hope Group shareholders and Market Forces are demanding the coal miner disclose plans to wind down production in line with global climate goals. New Hope faces a resolution backed by over 100 shareholders, calling for full disclosure in annual reporting on how the coal … Read More
New Hope shuts out shareholders at its 2022 AGM
24 November 2022 New Hope’s 2022 annual general meeting (AGM) descended to new lows this year, with very limited accessibility for shareholders. A site visit for shareholders to the company’s Bengalla mine scheduled before the AGM was also cancelled. The company held its 2022 AGM in the regional New South … Read More
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 demanded the company stop expanding and start managing down coal mining … Read More
CommBank chair says companies without transition plans by 2025 “un-bankable” at 2022 AGM
12 October 2022 Today, Commonwealth Bank faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. Despite trying to appear to be acting on climate change, the bank and its leadership were … Read More
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, quoted in Fortune India, June 2022) It’s statements like the … Read More
Commonwealth Bank faces shareholder resolution after climate policy leaves door open to fossil fuel expansion
MEDIA RELEASE: Wednesday 10 August 2022 Environmental finance campaigning organisation Market Forces has responded to Commonwealth Bank of Australia’s latest climate report and targets with a shareholder resolution, calling on the bank to ensure its financing no longer enables the expansion of the fossil fuel industry. The Commonwealth Bank (CBA) … Read More
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, stating “we will not provide any financing for … Read More
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 bank was reportedly in talks with Santos, a company … Read More
Market Forces founder Julien Vincent receives Goldman Environmental Prize
Hi everyone. This is a pretty special moment for me, but also for Market Forces, our team and supporters, and all those who have taken action to shift finance and investment away from fossil fuels. Today I have been given the honour of receiving a Goldman Environmental Prize. This is … Read More
Win! Deutsche Bank abandons Whitehaven Coal’s bond issue
20 May 2022 A media report in Germany confirmed publicly this week that Deutsche Bank has withdrawn from its involvement in a bond issue for climate-wrecking Whitehaven Coal, following a concerted people-powered campaign coordinated by Market Forces. Business media outlet Handelsblatt reported on Wednesday that: “According to information from financial … Read More