Huge gains in investor support for real climate action at Rio Tinto

7 May 2020 37% of Rio Tinto’s shareholders today voted in favour of a shareholder proposal calling on the mining giant to set Paris-aligned targets to reduce its greenhouse gas emissions, including those generated by the use of its products. Given Rio Tinto’s board opposed the proposal, the vote represents … Read More

Media release: Rio faces shareholder revolt over emissions targets

Friday 8 May, 2020: 37% of investors have backed a climate resolution calling on Rio Tinto to set clear targets to cut emissions, including those generated by the-use of its products, or “Scope 3” emissions. While lower than record numbers at Santos and Woodside, the vote is more than six … 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

Fortescue Metals Group falling behind on scope 3 emissions

29 October 2019 One of Australia’s biggest iron ore miners is falling behind its peers when it comes to managing the risks posed by its emissions-intensive value chain. Earlier this year, Fortescue Metals Group CEO Elizabeth Gaines said scope 3 emissions should not be considered in government project approvals processes. … Read More

Rio Tinto investors baulk at climate risk management

9 May 2019 The vast majority of Rio Tinto’s investors – which includes just about every super fund in Australia – today failed to ensure the company acts to manage down its exposure to climate change risk. A Market Forces-coordinated shareholder resolution was put to Rio Tinto’s annual general meeting … 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

Did your super fund vote for climate action?

You may have seen our recent research revealing that the vast majority of Australia’s biggest super funds are regularly voting against climate action at the companies they invest in. Well, super funds were given the opportunity to turn this trend around at three recent annual general meetings. Use the form … Read More

ANZ finance the purchase of Rio’s last coal mine

5 April 2018 ANZ has contributed to a US$1.7 billion (AU$2.2 b) deal to finance the purchase of Rio Tinto’s last coal asset by Indonesian coal miner Adaro Energy and private equity manager EMR Capital. The deal comes despite ANZ’s repeated claims that the bank’s lending to coal is on its way … Read More

Shareholders put climate front and centre

Market Forces is all about empowering community members to hold organisations accountable for their climate and environmental impacts. A major element of this work involves working with shareholders to enable them to raise these issues directly with companies at their annual general meetings (AGMs). In the first half of 2017, … Read More