17 August 2022 Australia’s second biggest oil and gas producer, Santos, has today announced a final investment decision on the new Pikka Phase 1 oil project in Alaska. The decision comes despite the International Energy Agency’s warning that no new oil fields should be developed beyond those approved as of … Read More
14.5% of shareholders tell Woodside to start winding down production
19 May 2022 Responding to the shareholder vote on the Market Forces-coordinated shareholder resolution at Woodside’s AGM in Perth today, Market Forces Asset Management Campaigner Will van de Pol said: “Today 49% of Woodside’s shareholders rejected the company’s utterly inadequate approach to climate change, the largest vote against any Say … Read More
Investor demands for Santos to wind down oil and gas production increase to 15%
3 May 2022 15% of Santos’ shareholders today defied the company’s board, demanding Santos drop its rampant oil and gas expansion plans and instead manage down production in line with a net zero emissions by 2050 pathway. This is an increase on the 13% support received for a similar resolution … Read More
AustralianSuper members, this is your chance to make an impact at a global scale
2 December 2021 Meet Dylan, an AustralianSuper member who is taking action to ensure the super fund giant is doing all it can to properly manage the risks climate change poses to members’ retirement savings. Supported by the team at Equity Generation Lawyers, Dylan is writing to AustralianSuper asking for … Read More
Oil and gas producers fail to accept net zero means no expansion
15 November 2021 Australia’s oil and gas exploration and production companies are being challenged by shareholders over the incompatibility of their expansions plans with global climate goals. With a number of these companies having held their AGMs recently, a recurring theme to shareholder questioning has been the International Energy Agency’s … Read More
NAB to ‘measure itself against’ IEA’s Net Zero by 2050 scenario
10 September 2021 NAB’s key executives appeared yesterday at the Australian Parliament’s Standing Committee on Economics, and addressed the review of the bank’s oil and gas policy—due for release “in the coming months”. While the bank had previously stated it’s “taking into account” the conclusions of the International Energy Agency’s … Read More
Communities in North West NSW tell NAB: stop funding expansion of gas industry
25 May 2021 Today, banking executives and staff leafing through the pages of Australia’s most widely read business newspaper, the Australian Financial Review, can’t have missed this powerful message: The North West Alliance, supported by Market Forces, is calling on NAB to cease funding companies and projects that expand the … Read More
IEA’s net zero pathway confirms no room for expanding fossil fuel industry
19 May 2021 Yesterday the International Energy Agency (IEA), an autonomous policy adviser to the world’s governments, released a landmark new report, outlining a roadmap to achieve net zero emissions (NZE) within the global energy sector by 2050. There are a number of highly significant findings in the report, particularly … Read More
QBE’s do-nothing oil and gas policy critiqued at AGM
05 MAY 2021 Today’s QBE annual general meeting (AGM) saw a significant increase in the shareholder vote on a resolution calling for the insurer to set Paris-aligned oil and gas exposure targets, despite the company having attempted to placate investors with a lacklustre policy update in the interim. 21.4% of … Read More