ANZ held to account for climate inaction at AGM

16 December 2020 Following the release of a lacklustre update to its climate policy in October, today’s ANZ annual general meeting (AGM) saw the bank’s board held to account for the gap between rhetoric and action on climate change. However, perhaps the bank wasn’t as prepared to bear the weight … Read More

Westpac 2020 AGM: funding climate failure is the ‘sweet spot’

11 December 2020 Westpac’s board knew they would be facing tough questions from shareholders at today’s annual general meeting (AGM) given the banks’ continued funding for Australia’s most climate-destructive companies, including Whitehaven Coal and Santos. The bank’s updated climate policy, released in May, was a step forward as it pledged … Read More

South32’s new climate plan won’t include scope 3 targets

29 October 2020 Diversified mining company South32 told shareholders today it would have “something to say” about its huge scope 3 greenhouse gas emissions (those generated from the use of its products) when the company updates its climate policy next year. However, the company isn’t expected to include any clear … Read More

Media Release: ANZ, NAB face shareholder resolutions on climate action

ANZ and NAB called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 1 October 2020 Environmental finance organisation Market Forces is today lodging shareholder resolutions with ANZ and NAB. The resolutions call for a reduction in exposure to the fossil fuel … Read More

Bendigo Bank finally supports the Paris Agreement

17 August 2020 Bendigo and Adelaide Bank enjoys a lot of kudos for being one of Australia’s medium-sized banks that doesn’t invest in fossil fuels. Thousands of Australians have moved to Bendigo Bank as a result of its position on our banks comparison table. Yet in the (nearly) five years … Read More

Media release: Fossil fuel lending by Australian banks tops AU$35bn

New Market Forces analysis – Funding Climate Failure Wednesday 8 July, 2020: Despite repeated pledges and policies to the contrary, Australia’s big four banks have once again increased funding to the expansion of the fossil fuel industry over the past year. The figures mean fossil fuel lending has topped $35.5 … Read More

FAR Ltd betting against Paris climate goals

An offshore oil rig

27 May 2020 FAR Ltd is an oil and gas exploration company, with one major project nearing development: the Sangomar oil field off Senegal’s coast. With the company’s entire business model predicated on new oil and gas developments that cannot be burned in a 1.5°C warming scenario, Market Forces has … Read More

Adelaide Brighton investors must demand Paris-aligned targets

19 May 2020 In response to questioning from shareholders at its annual general meeting today, Australian construction material company Adelaide Brighton suggested its weak emission reduction targets could be stepped up to align with the Paris climate goals over the coming year. Investors must now use their position to hold … Read More