Media release: Fourth major Chinese bank walks away from Adani mega mine

Wednesday 13 December, 2017: China Merchants Bank today provided a statement to environmental finance campaigning group Market Forces, confirming it will have no part in the proposed Adani Carmichael coal mine. The bank replied to a letter outlining an array of concerns with the proposed project and the corporate record … Read More

Media release: Commbank confirms coal exit

Chairperson Catherine Livingstone will use today’s AGM to confirm Commonwealth Bank’s exit from investment in coal. In a statement submitted to the ASX and soon to be delivered at the AGM, Ms Livingstone says “our coal funding is comparatively small and has been trending down for some time. We expect … Read More

Media Release: Climate change spurs Medibank fossil fuel divestment

Monday 13 November, 2017: Medibank’s announcement it will divest tens of millions of dollars from fossil fuels due to the ‘health effects of climate change’ has been welcomed by environmental finance group Market Forces. The decision came today in an ASX statement in advance of the health insurer’s Melbourne AGM, … Read More

Media Release: Shareholders move to force Commbank to manage climate risk

28 August 2017 Shareholders have lodged a first-of-its-kind resolution with Commonwealth Bank that would embed climate change risk management into its constitution. It comes a month after shareholders began court proceedings against the bank over its failure to consider climate change as a material business risk. The resolution, coordinated by … Read More

Media release: Origin Energy faces three shareholder resolutions

23 August 2017 Coordinated by environmental finance group Market Forces, shareholders in Origin Energy have filed a series of resolutions with the oil and gas major. View ASX announcement. The three resolutions, to be heard at Origin’s October AGM, call for greater disclosure of climate risks, the development of a … Read More

Media Release: Lack of funders belies Adani’s investment intentions

TUESDAY 6 JUNE, 2017: Adani’s expected ‘investment decision’ concerning its proposed Carmichael mine is little more than a PR stunt, according to environmental finance group Market Forces. With a net debt estimated at $2.5 billion, Adani Enterprises has yet to raise a single cent of the $5 billion required to capitalise … Read More