Wesfarmers shareholders want actions to match the board’s words

17 November 2017 Yesterday afternoon, consumer staples giant Wesfarmers held their annual general meeting (AGM) in Perth. The AGM saw a big turn-out of more than 2000 shareholders who questioned the board on issues ranging from accountability, risk disclosure, human rights, climate change and executive remuneration. Wesfarmers identifies climate change … Read More

Shareholders concerned about LNG Limited’s attitude

In response to a shareholder’s question at LNG Ltd’s annual general meeting yesterday in Melbourne, the company’s auditor failed to define climate change as a material risk. The auditor also claimed that it wasn’t their job to assess matters of business risk. An unusual answer considering that in other companies, … Read More

Senex not aware of the TCFD

15 November 2017 Today shareholders asked Senex about whether it has plans to transition to lower carbon emitting activities in line with the two degree Paris commitments. In short, the answer was no. Senex Energy is an Australian energy company listed on the ASX which engages in oil and gas exploration … Read More

Cooper Energy: receiving funding from ANZ

At the Cooper Energy annual general meeting board members asserted they were conscious of environmental impacts, however they were unable to give specific details about their plans as they weren’t yet formulated. Managing Director, David Maxwell, also announced a drastic change in the company’s asset portfolio from 100% crude oil reserves … Read More

Karoon Gas: “Targets in terms of our GHG emissions will be meaningless”

9 November 2017 This morning at the Annual General Meeting of Karoon Gas in Melbourne, Chairman David Klingner expressed that setting targets in terms of Karoon’s GHG emissions will be meaningless. This is completely contradictory to the company’s commitment to disclose information in accordance to the final recommendations made by the … Read More

Fortescue avoids tough questions on climate

9 November 2017 Yesterday Fortescue Metals Group failed to give a clear time frame for implementing the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). As one of Australia’s major energy users, Fortescue must demonstrate how it plans to deal with both the physical and transitional risks associated … Read More

Boral: “Climate not a significant risk”

2 November 2017 Last financial year, Boral Ltd spent around $300 million on energy and emitted 2.5 million tonnes of CO2 equivalent. So far this financial year the company has suffered losses of up to $10m due to the impacts of hurricanes in the US, which were exacerbated by climate … Read More

Whitehaven’s expansion plans contradicts the Paris Agreement

25 October, 2017 Today at the Whitehaven Coal annual general meeting (AGM), the board and CEO made it clear that the company has no intention of operating in line with the COP21 Paris Agreement. Chairman Mark Vaile and CEO Paul Flynn spoke about the company’s growth prospects, digging up and … Read More

Bluescope Steel – still a long way to go on climate risk

How to Switch Banks and Make it Count

11 October 2017 Major energy user Bluescope Steel made the right noises about limiting emissions at the company’s annual general meeting (AGM) in Melbourne today, but failed to commit to strong climate action. Despite clear evidence that a global transition away from fossil fuels is required to keep warming below … Read More