Suncorp: The last major Australian insurer supporting new coal

Bush fire in Queensland

11 April, 2019 One of Australia’s biggest insurance companies has ended up being the last major insurer still open to providing insurance to (underwriting) new thermal coal projects. Suncorp, which owns brands AAMI, GIO, APIA and Just Car, was put into this embarrassing position after competitor QBE announced an end … Read More

Incitec Pivot: 4°C warming = selling more fertiliser

December 2018 Incitec Pivot is an Australian multinational corporation that manufactures fertiliser, explosives, chemicals, and delivers mining services. At its annual general meeting yesterday, chairman Paul Brasher was asked if the board support the goals of the Paris climate agreement. Brasher refused to take a stance saying: “Our position is … Read More

Karoon Gas: not quite the environmentalist it claims to be

An offshore oil rig

30 November 2018 “We are at heart environmentalists,” CEO Robert Hosking of oil explorer and soon-to-be producer, Karoon Gas told shareholders at today’s annual general meeting in Melbourne.  The company, which is about to drill an offshore oil well in Peru that has a CO2 emissions potential of 110 million tonnes … Read More

Climate a hot issue at Bluescope Steel’s annual general meeting

Welding at steel mill

23 November 2018 “Our targets are based on the… Australian [emissions] requirement” chairman John Bevan told shareholders at Bluescope Steel’s annual general meeting (AGM) today in Sydney, where climate change was a hot topic. Whilst acknowledging support for the global Paris climate accord, the steel manufacturing giant said its emissions … Read More

Coal companies called out on future viability

22 November 2018 The recent United Nations Intergovernmental Panel on Climate Change (IPCC) report found that a jump from 1.5ºC to 2ºC of warming would mean the death of the Great Barrier Reef, twice as many people worldwide exposed to water stress, and an extra 40,000 people in small island … Read More

Wesfarmers: still keeping investors in the dark

Wesfarmers AGM 2018 announcement screengrab

19 November 2018 Earlier this year, Market Forces released its Investing in the Dark research on climate risk disclosure among the top 100 ASX listed companies. Analysis revealed that Wesfarmers has made progress in: acknowledging the science of climate change classifying climate risk as a financial risk considering the risks … Read More