24 November 2017 We found out today at their respective annual general meetings that both AWE and Horizon Oil do not classify climate risk as a material business risk, despite both companies’ business models relying on continued fossil fuel exploration and production. Horizon Oil CEO admitted to shareholders that climate … Read More
Armour Energy on climate change: “We can’t comment on that”
Oil and gas exploration and production company Armour Energy today failed to define climate change as a material risk to its business, and refused to commit to implementing recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD). The company’s failure to report on climate risk, along with its external … Read More
Wesfarmers shareholders want actions to match the board’s words
17 November 2017 Yesterday afternoon, consumer staples giant Wesfarmers held their annual general meeting (AGM) in Perth. The AGM saw a big turn-out of more than 2000 shareholders who questioned the board on issues ranging from accountability, risk disclosure, human rights, climate change and executive remuneration. Wesfarmers identifies climate change … Read More
Seven Group Holdings assert they have no significant environmental liabilities
16 November 2017 This morning at Seven Group Holdings (SGH) annual general meeting in Sydney, Chairman Kerry Matthew Stokes reaffirmed that the company does not consider ‘climate risk’ as a material business risk. This is despite the company’s massive exposure to the energy and sector through its subsidiary SGH Energy … Read More
Cooper Energy: receiving funding from ANZ
At the Cooper Energy annual general meeting board members asserted they were conscious of environmental impacts, however they were unable to give specific details about their plans as they weren’t yet formulated. Managing Director, David Maxwell, also announced a drastic change in the company’s asset portfolio from 100% crude oil reserves … Read More
Karoon Gas: “Targets in terms of our GHG emissions will be meaningless”
9 November 2017 This morning at the Annual General Meeting of Karoon Gas in Melbourne, Chairman David Klingner expressed that setting targets in terms of Karoon’s GHG emissions will be meaningless. This is completely contradictory to the company’s commitment to disclose information in accordance to the final recommendations made by the … Read More
Boral: “Climate not a significant risk”
2 November 2017 Last financial year, Boral Ltd spent around $300 million on energy and emitted 2.5 million tonnes of CO2 equivalent. So far this financial year the company has suffered losses of up to $10m due to the impacts of hurricanes in the US, which were exacerbated by climate … Read More
Aurizon shareholders: How does Adani coal align with 2°C?
18 October 2017 Shareholders today grilled Aurizon over its plans to build a railway that would open up the Galilee Basin to coal mining. The coal haulage company currently has a financing bid before the Northern Australia Infrastructure Facility (NAIF), rivalling Adani’s request for $1 billion to build the rail … Read More
Bluescope Steel – still a long way to go on climate risk
11 October 2017 Major energy user Bluescope Steel made the right noises about limiting emissions at the company’s annual general meeting (AGM) in Melbourne today, but failed to commit to strong climate action. Despite clear evidence that a global transition away from fossil fuels is required to keep warming below … Read More
Putting climate and human rights centre stage
Around Australia, shareholders are acting to make companies take climate change and human rights seriously. Super fund members like you can help their cause by telling your fund to vote your retirement savings in favour of resolutions that protect people and planet. Having coordinated support from more than 100 shareholders … Read More