Too little, too late: NAB’s new climate policy an exercise in greenwash

15 November 2019: NAB’s Sustainability Report, released today, is little more than greenwash and a recipe for climate catastrophe, says environmental finance group Market Forces.  In particular, its central announcement to exit thermal coal mining by 2035 is a clear example of too little too late, falling short of time … Read More

Media release: AGL management rejects climate resolution

8 August 2019 AGL’s management today advised shareholders to reject a resolution calling on the company, Australia’s largest greenhouse gas emitter, to reduce emissions in line with the climate goals of the Paris Agreement. “AGL’s argument against a common sense shareholder resolution appears to reject the science, which tells us … Read More

Media release: Commbank out of thermal coal by 2030

New fossil fuel projects must prove carbon compliance Wednesday 7 August 2019 In today’s commitment, made in the bank’s new Environmental and Social Framework, to exit thermal coal by 2030, Commonwealth Bank has issued a stark warning to industry and policy-makers that coal has no place in Australia’s future. Commonwealth … Read More

Media release: Suncorp dumps thermal coal

26 July 2019 In response to Market Forces lodging a shareholder resolution, Suncorp has revealed it is exiting the thermal coal sector, meaning there are now no Australian insurers willing to underwrite new thermal coal mines and power stations. A Suncorp spokesman told InsuranceNews, “Suncorp does not directly invest in, … Read More

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.  Transurban operates major tollways in Australia … Read More