30 April 2021 Almost a tenth of Oil Search's investors today told the Australian stock exchange's third largest undiversified oil and gas producer to wind up fossil fuel production and return capital to shareholders. The vote for the Market Forces-coordinated...
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...
Oil Search must abandon oil and gas expansion
1 May 2020 Oil Search, Australia’s third largest pure play oil and gas company, today told shareholders its current strategic review will lead the company to “settling on a strategy that is consistent with the interests of shareholders.“ Company Chair Richard...
Oil Search assets – eroded under 2 degrees
11 May 2018 At the Oil Search annual general meeting today chairman Richard Lee assured shareholders that Oil Search’s assets were safe under 2 degrees of global warming. Speaking about the company’s 2017 Climate Change Resilience Report he explained ‘the analysis...
Big 4 STILL financing fossil fuel expansion
On 22 June 2017, some 18 months after committing to support the aims of the Paris Agreement, Australia's big four banks all contributed to a deal to finance more oil and gas exploration and production. Clearly, ANZ, CommBank, NAB and Westpac are yet to come to terms...
Shareholders put climate front and centre
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Shareholder win! Oil Search commits to climate risk disclosure
19 May 2017 After months of pressure from shareholders, Oil Search confirmed at their AGM today that the company would commit to conduct and release an analysis of how it performs in a scenario where global warming is contained to 2 degrees and 1.5 degrees. The...
Will your super fund vote for or against climate action?
Oil Search and Santos are two of Australia’s largest oil and gas companies – and neither is addressing the risks of climate change. Oil Search is one of the biggest companies operating in Papua New Guinea, a country already feeling the effects of climate change. Sea...