Win! Commbank out of thermal coal by 2030!
7 August 2019 Great news! Commonwealth Bank has become the first in Australia to signal an end to thermal coal exposure! In its latest policy update, the bank has said it will: continue to reduce its thermal coal mining and coal-fired power generation exposures with a...
Norwegian sovereign wealth fund pulls $3 billion out of AGL, BHP and South32
The Norwegian government’s decision to tighten the Government Pension Fund Global’s (GPFG) coal exclusion criteria will see the world’s richest sovereign wealth fund withdraw a combined AU$3 billion from AGL, BHP and South32. Take action: Tell your super fund to...
QBE dumps thermal coal due to global warming
2 April 2019 On Saturday, Australia’s biggest coal underwriter (insurer) took the positive step of committing to phase out its entire thermal coal business by 1 January 2030. QBE also ruled out providing insurance to any new thermal coal mine, power plant or transport...
Media Release: Market Forces welcomes QBE’s end to coal finance
Saturday 30 March, 2019: The announcement today by Australia’s largest insurer, QBE, to end its support for the coal industry has been welcomed by environmental finance group Market Forces. “QBE’s decision to withdraw insurance from the coal industry is business and...
Shareholders pressure QBE to end fossil fuel support
Market Forces Campaigner Pablo Brait ready to deliver the resolution to QBE's Sydney offices, 5 March 2019 Today, shareholders coordinated by Market Forces together with the $2.85 billion investment manager Australian Ethical, lodged a resolution calling on QBE...
QBE shareholders: take action!
Tell QBE you want them to adopt your shareholder resolution on phasing out fossil fuels 5 March 2019 Today, thanks to you, we lodged a shareholder resolution for QBE's annual general meeting co-filed with Australian Ethical, an investment manager with $2.85 billion...
Our Future: clean energy a test for banks’ rehabilitation
Today’s release of the Royal Commission’s report into the financial services industry will chronicle the recent misconduct of the major banks and plot a course for how the industry can restore some integrity. It’s going to be a long road back, but one opportunity for redemption comes in the role banks can play reshaping our energy landscape.
Big four banks increase their fossil fuel exposure
January 2019 Australia's major banks have been getting back into fossil fuels over the last year, casting doubt on their seriousness in tackling climate change through their investments. This study compares the banks' reported exposures to fossil fuels and renewable...
ANZ: still not living up to its climate commitments
19 December 2018 Our Banking Royal Commission has exposed massive discrepancies between what Australia’s big four banks say and how they act. ANZ is a glaring example with chief executive Shayne Elliott and chairman David Gonski committing to both climate and human...