QBE’s fossil fuel inconsistency questioned at AGM

7 May 2020 As has been the case now for several years (see 2019 and 2018), fossil fuels and the climate crisis dominated insurance company QBE’s annual general meeting (AGM) today, despite it being shifted online due to the COVID-19 pandemic. With QBE having announced its exit from thermal coal … Read More

Super funds continue to block climate action

23 April 2020 Major super funds in Australia are continuing to vote, on behalf of their members, against the majority of shareholder proposals that would improve companies’ climate risk management.  By investing our retirement savings in company shares, super funds get a say in how those companies are run. Our … Read More

QBE faces shareholder resolution on oil and gas support

5 March 2020 Shareholders coordinated by Market Forces together with the $4bn investment manager Australian Ethical have co-filed a resolution calling for the global insurer to align underwriting (insurance) and investment activities with keeping global warming below 1.5 degrees. QBE has confirmed to the ASX this morning that the resolution … Read More

QBE’s unanswered questions

Bush fire in Queensland

11 June 2019 It’s not often that an annual general meeting (AGM) can be described as compelling. QBE’s AGM held on 9 May, however, delivered the goods with several questions from the floor resulting in extraordinary exchanges between shareholders and the chairman Marty Becker and CEO Pat Regan. Unfortunately, these … Read More

QBE leaves door open to oil and gas phase out

Bush fire in Queensland

QBE Insurance faced a barrage of questions as well as a shareholder resolution calling for the company to set targets to phase out its exposure to all fossil fuels at its annual general meeting on 9 May 2019. Although QBE took a big step forward in March when it committed … Read More

Tell your super fund: Vote for climate action!

April 2019 Through your retirement savings, you can have a say in how many Australian companies are run. Tell your super fund to vote for climate action from corporate Australia. Market Forces has worked with shareholders to put climate action on the agenda at three major Australian company meetings coming … Read More

QBE dumps thermal coal due to global warming

QBE Sydney Market Forces action 2018

2 April 2019 On Saturday, Australia’s biggest coal underwriter (insurer) took the positive step of committing to phase out its entire thermal coal business by 1 January 2030. QBE also ruled out providing insurance to any new thermal coal mine, power plant or transport network from 1 July 2019, and … Read More