9 August 2023 This morning Commonwealth Bank announced a host of new fossil fuel finance restrictions, bringing Australia’s biggest bank closer to alignment with its commitments to the goals of the Paris Agreement and net zero emissions by 2050. Announcing a series of firsts for a major Australian bank, these … Read More
Banks finally dump Whitehaven Coal
In a win that’s been a long time coming, news broke this week that Australia’s largest independent coal miner Whitehaven Coal is currently unbankable. This is a major development that further proves the effectiveness of the people-powered movement to drive finance out of fossil fuels! Earlier this week, Whitehaven announced … Read More
Warning sent to Commonwealth Bank ahead of crucial climate policy update
4 July 2023 Today Commonwealth Bank will receive hundreds of copies of a joint statement, calling on the bank to end all financing for new and expanded fossil fuels in its upcoming climate policy update. The statement, coordinated by Market Forces and endorsed by 35 civil society organisations, including the … Read More
Indonesia’s Just Energy Transition must be transparent and green
OPINION | Andri Prasetiyo, Senior Researcher at Senik Centre Asia and Nabilla Gunawan, Indonesia Energy Finance Campaigner at Market Forces The Just Energy Transition Partnership (JETP) between Indonesia and its major trading partners is at risk of stifling Indonesia’s coal phase-out progress if it does not provide a clear-cut definition … Read More
Super funds invest $34 billion in fossil fuel expansion
MEDIA RELEASE Sunday 7 May, 2023: A new report by Market Forces reveals Australia’s 30 biggest super funds increased their investment exposure to Australian and international companies most responsible for expanding fossil fuels in 2022 to a total of more than AU$34 billion. Australia’s biggest funds have increased their investment … Read More
Why super funds need to get out of fossil fuels
OPINION | Jo Dodds, President of Bushfire Survivors for Climate Action Over recent weeks, bushfires have been raging across the country in NSW, Victoria and Central Australia, and it’s deeply troubling. I’m worried for everyone near the fires. It’s particularly stressful for anyone who has survived other fires in recent … Read More
Pressure on Asian companies reaches boiling point for climate action
OPINION | Koh Matsuki CEO, Proxy Watcher Some of Japan’s biggest energy and resources companies are pushing full steam ahead to expand fossil fuel projects across Asia. But banks across Asia and corporate Japan – including Mitsubishi, Mizuho Bank and J-Power – are feeling the heat from major investors calling … Read More
NAB fails to address fossil fuel lending loopholes at 2022 AGM
16 December 2022 NAB faces shareholder backlash over continued support for new fossil fuels at 2022 AGM Today, National Australia Bank (NAB) 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. … Read More
ANZ pulls the wool over investors eyes on climate at 2022 AGM
15 December 2022 Just over 8% of shareholders voted in favour of a formal proposal calling on the bank to demonstrate how its funding would not be used for new fossil fuel projects at today’s annual general meeting. Last month, a UN High-level Expert Group confirmed what many experts have … Read More
Westpac’s ‘laughable’ greenwashing called out at 2022 AGM
14 December 2022 Over 10% of Westpac’s shareholders defied the board to support a formal proposal calling on the bank to demonstrate how its funding won’t be used for new fossil fuel projects at today’s annual general meeting (AGM) in Melbourne. The bank was also grilled over the community costs … Read More