10 December 2021 Washington H Soul Pattinson (WHSP) owns 40% of Australian thermal coal miner New Hope, and the two companies share a number of directors, including Chair Rob Millner. New Hope is pursuing the highly controversial New Acland Stage 3 coal mine in Queensland, and confirmed at its AGM … Read More
New Hope Corporation doubles down on coal during farcical 2021 AGM
19 November 2021 Coal miner New Hope Corporation’s 2021 AGM descended into farce yesterday, with technology issues compounding upon the company’s evasive approach to shareholder accountability. Despite this, New Hope’s board still found time to double-down on its commitment to climate-wrecking coal, admitting New Hope intends to continue deriving around … 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
New Hope’s largest shareholder says it doesn’t need to think about net-zero by 2050
9 December 2020 The largest shareholder of Australian thermal coal mining company New Hope, Washington H Soul Pattinson, fielded a number of shareholder questions on the shift away from coal-fired power generation required to avoid the worst impacts of climate change. The company’s responses will do little to reassure investors … Read More
New Hope increasingly detached from reality
17 November 2020 At its annual general meeting today, New Hope Corporation faced a shareholder resolution calling on the company to wind up its coal production in line with the climate goals of the Paris Agreement. With the Board recommending shareholders vote against the resolution, and parent company Washington H … Read More
Shareholder resolutions call for fossil fuel wind up plans
Market Forces is supporting shareholders to call on companies to demonstrate how they will ‘wind up’ (bring about an end to) coal, oil and gas production over time, protecting money from being wasted on new projects, and supporting workers as the economy rapidly moves on from fossil fuels to meet … Read More
Fossil fuel investments tanking
16 May 2020 The value of Australia’s fossil fuel producers has tanked over the last 10 years, a trend which has been exacerbated during the Covid-19 pandemic. We identified 11 companies in the top 300 listed on the Australian share market (ASX 300) whose sole business is producing coal, oil … Read More
Soul Patts shuts down AGM rather than answer questions on coal and climate change
6 December 2019 Washington H Soul Pattinson went to extraordinary lengths to avoid questions on coal and climate change at its annual general meeting today, pushing all questions to the end of the meeting before shutting the entire AGM down after just a few questions. It’s no surprise that climate … Read More
Super funds failing to engage with New Hope on climate risk
19 November 2019 Investor claims of climate risk engagement were again called into question at today’s New Hope AGM. As a pure play coal producer with plans to open up a massive new mine, there could hardly be a better example of a company facing climate change risk. Meeting the … Read More
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