12 September 2023 Our latest analysis shows members of Australia’s biggest super funds own a significant stake in some of Australia’s worst climate criminals, Woodside and Santos. For the first time, we’ve paired our investment analysis with share voting data to identify which super funds are using the retirement savings … Read More
Woodside pushing ahead with Trion oil field, another project out of line with Paris climate goals
20 June 2023 Climate wrecking oil and gas company Woodside has today made the decision to proceed with a new offshore oil field, once again demonstrating a complete disregard for investor demands to align with global climate goals. Woodside today made the final investment decision (FID) on Trion, a massive … Read More
HESTA’s sleight of hand distracting members from the fund’s most climate-damaging investments
14 June 2023 HESTA’s latest climate change report yet again fails to articulate the fund’s expectations of the most climate-damaging companies in its portfolio, including Santos and Woodside. For all its lofty claims of climate action, HESTA continues to invest in companies hell-bent on expanding the fossil fuel sector, has … Read More
NAB fails to address fossil fuel lending loopholes at 2022 AGM
16 December 2022 NAB faces shareholder backlash over continued support for new fossil fuels at 2022 AGM Today, National Australia Bank (NAB) faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. … Read More
ANZ pulls the wool over investors eyes on climate at 2022 AGM
15 December 2022 Just over 8% of shareholders voted in favour of a formal proposal calling on the bank to demonstrate how its funding would not be used for new fossil fuel projects at today’s annual general meeting. Last month, a UN High-level Expert Group confirmed what many experts have … Read More
Westpac’s ‘laughable’ greenwashing called out at 2022 AGM
14 December 2022 Over 10% of Westpac’s shareholders defied the board to support a formal proposal calling on the bank to demonstrate how its funding won’t be used for new fossil fuel projects at today’s annual general meeting (AGM) in Melbourne. The bank was also grilled over the community costs … Read More
Westpac: climate change commitments one week, financing climate-wreckers the next?
2 August 2022 Last week, Westpac announced it was joining the Net-Zero Banking Alliance and made some further climate change commitments that still fail to demonstrably align with the Paris Agreement’s goals. As Westpac made the announcement, another part of the bank was reportedly in talks with Santos, a company … Read More
Investors give QBE a free pass despite hypocrisy on climate
6 May 2022 A shareholder resolution calling on QBE to align its oil and gas underwriting and investment with the goals of the Paris Agreement achieved 19.8% support at QBE Insurance’s AGM yesterday. As has been the case for several years now, the AGM was dominated by questions regarding QBE’s … Read More
$6.8 billion fund co-files resolution targeting QBE over weak oil and gas policies
Tuesday 3 May 2022 QBE’s board is facing a confrontation with shareholders at its AGM this Thursday, with a resolution placing its oil and gas policies under the spotlight. The resolution has been co-filed by $6.8bn Australian Ethical and shareholders coordinated by advocacy group Market Forces. Active Super and U … Read More
Santos’ oil and gas portfolio would halve in value under the IEA’s net zero by 2050 scenario
30 March 2022 Buried on page 40 of Santos’ new Climate Change Report is a damning chart, showing the value of the company’s oil and gas portfolio would drop by around half under the International Energy Agency’s Net Zero by 2050 scenario. Santos projects this fall could be offset by … Read More