29 July 2021 Major Australian financial institution Macquarie was today challenged by shareholders and communities over its support for the oil and gas industry, and inconsistencies between this support and its commitment to net zero emissions by 2050. Just weeks after Macquarie’s commitment to “aligning our financing activity with the … Read More
ASIC investigation requested into New Hope statements
21 July 2021 Australian coal company New Hope has a track-record of dodging questions about the material financial risks to its business from climate change. That’s why this week EDO Australia, on behalf of Market Forces, wrote to the Australian Securities and Investments Commission (ASIC) requesting an investigation into potentially … Read More
Woah big spender! New Hope splashes out promoting climate-wrecking coal
11 June 2021 Data released last month shows that coal company New Hope splurged over $650,000 on the 2020 Queensland election, ranking fourth on a ‘big spenders’ list headed by Clive Palmer’s Mineralogy Pty Ltd [1]. The bulk of the company’s expenditure was on advertising, marketing and public relations advice … Read More
Macquarie fails to commit to coal and gas phase outs
30 July 2020 Major Australian financial institution Macquarie was today challenged over its involvement in the coal and gas industries, and the risks this poses to shareholders, communities and the environment. Macquarie claims its “lending exposures to [the coal] sector are limited and we expect them to run off over … Read More
Do you own a piece of these dirty fossil fuel projects?
21 November 2018 Super funds invest our retirement nest eggs in major infrastructure projects and assets, not just companies. This means you are likely to own a piece of some of the biggest, dirtiest fossil fuels projects on the planet. Market Forces has found widespread investment in fossil fuel infrastructure … Read More
Who’s coming clean on climate risk?
10 September 2018 If you’ve been following our work closely over the last couple of years, you’ll know we’ve put a lot of effort into forcing companies to come clean on the financial risks they face from climate change. If this is news to you, you may want to have … Read More
Macquarie commits to climate risk disclosure
In less than a year Macquarie has moved from not knowing what the Task Force on Climate-related Financial Disclosures (TCFD) was, to committing to adopt all of the Task Force’s recommendations. Yesterday Macquarie published this in its climate change report: “In the FY2019 reporting cycle we will continue to evolve … Read More
Climate change denial goes mainstream at Macquarie AGM
28 July 2016 “There are two sides to this debate.” These were the remarks of the Macquarie Group Chairman Peter Warne, after their AGM descended into somewhat of a farce earlier today, as shareholders asked tough questions of a bank that is fast becoming a significant fossil fuel player and … Read More