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
NAB shareholders: Help push NAB out of climate-wrecking gas
10 May 2021 NAB, a major funder of climate-destructive gas companies including Santos and Origin Energy, is planning to update its gas and oil policy this year. Scientists, economists and Nobel Laureates have told us there’s no room to expand the fossil fuel industry if we’re to limit warming to … Read More
10% of Oil Search shareholders call for fossil fuel wind up plan
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 shareholder proposal follows votes of 19% and 13% for similar … Read More
Woodside faces shareholder and community opposition to gas expansion
15 April 2021 Woodside’s AGM in Perth today saw almost a fifth of the gas giant’s shareholders tell the company to wind up gas and oil production in line with the Paris climate goals. This was the second time in less than 12 hours that a significant proportion of investors … Read More