18 October 2018 Wildfires tore through the Napa Valley in October 2017, devastating the Californian wine industry. As the hills went up in flames, the estates owned and operated by Treasury Wine Estates (TWE) miraculously survived with only minor damage. The fires,...
fossil fuels
Climate risk disclosure: Transurban still in the slow lane
"...we don't consider it [climate change] to be one of the significant business risks or financial risks for Transurban" Marcus Laithwaite, auditor 11 October 2018 You might not have heard of the company, but chances are you’ve driven on one of their roads. ...
Magellan can’t see risks to its own business
Magellan Financial Group's (MFG) deputy investment officer Dominico Giuliano recently made statements in the media about the need for accurate climate risk disclosure. At its annual general meeting (AGM) today, however, the company seemed to think that climate change...
Meeting Paris Agreement goals is not a matter for ASX board
4 October 2018 With its high proportion of coal and gas producers, the ASX All Australian 50 index has been rated the most exposed market to potential stranded [fossil fuel] assets. These are coal, oil and gas reserves that cannot be burnt if we want to stay well...
AGL reaffirms closing Liddell coal-fired power station by 2022
26 September 2018 Today energy giant AGL faced angry community representatives and shareholders at its annual general meeting (AGM) in Melbourne. Most of question time was taken up by the Western Port community voicing their concerns over Crib Point, with the board...
QBE to review climate risk of investments and underwriting
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Artwork contributes to supporting Narrabri locals
In May this year, hundreds of people contributed to a crowdfunder to allow locals, including five farmers and a Gomeroi Traditional Owner, to attend the Santos annual general meeting to show the overwhelming community opposition to Santos’ coal seam gas project. One...
Macquarie to produce climate risk scenario analysis
26 July 2018 “Risk has always been at the heart of Macquarie”, said Nicholas Moore, managing director and chief executive officer at today’s annual general meeting in Sydney. As part of its risk framework, Macquarie Group will now begin producing a scenario analysis...
AusNet: no commitment on the Task Force
AusNet own and operate the Victorian electricity transmission network, which is mainly powered by brown coal in the Latrobe Valley. Since Australia needs to keep 95% of its coal in the ground to meet the Paris Agreement’s goal of holding global warming well below two...