MEDIA RELEASE Wednesday 14 September: UniSuper’s new climate risk report reveals the mega fund has continued quietly selling down its investments in Australia’s largest gas producer, Woodside, and to a lesser extent, fellow climate-wrecking oil and gas expander, Santos. Despite mergers and share price changes that would have seen UniSuper’s … Read More
HESTA asks the impossible of oil and gas producers Woodside, Santos and Origin, rather than divesting
In an attempt to justify continued investment in climate wrecking oil and gas producers Woodside, Santos and Origin, HESTA announced today it had asked the impossible of those companies, requesting they demonstrate how their new or proposed fossil fuel projects fit within a 1.5°C emissions reduction scenario. Climate scientists have … Read More
Santos sanctions another new project incompatible with 1.5°C
17 August 2022 Australia’s second biggest oil and gas producer, Santos, has today announced a final investment decision on the new Pikka Phase 1 oil project in Alaska. The decision comes despite the International Energy Agency’s warning that no new oil fields should be developed beyond those approved as of … Read More
HESTA’s investments in Santos and Woodside may be a breach of the law
The Environmental Defenders Office has sent HESTA a legal letter on behalf of HESTA members Rod and Sue. The letter states that HESTA’s investments in Santos and Woodside could be in breach of the fund’s obligations to manage climate risk. The letter also claims that the fund could also be … Read More
Westpac: climate change commitments one week, financing climate-wreckers the next?
2 August 2022 Last week, Westpac announced it was joining the Net-Zero Banking Alliance and made some further climate change commitments that still fail to demonstrably align with the Paris Agreement’s goals. As Westpac made the announcement, another part of the bank was reportedly in talks with Santos, a company … Read More
Super funds ‘sustainable’ options invest in fossil fuel expansion
MEDIA RELEASE: 21 July 2022 New analysis by Market Forces reveals several super funds are potentially misleading consumers and contravening the Australian corporate regulator’s ‘greenwashing’ advice. Eight of 11 major super fund investment options labelled ‘sustainable’ or ‘socially responsible’ are investing in companies expanding the fossil fuel sector. The analysis … Read More
Members divest millions from HESTA over fossil fuels
17 June 2022 Today, more than one hundred health and community services workers across Australia shifted millions of dollars away from HESTA over the fund’s investments in companies expanding fossil fuels. In the single biggest climate divestment day targeting a superannuation fund in Australia’s history, more than 130 members of … Read More
Millions divested from HESTA health super fund over investment in fossil fuels
17 June 2022 Health workers around Australia are divesting their funds from HESTA superannuation due to its investments in companies expanding fossil fuels. In the biggest single climate divestment day targeting a superannuation fund in Australia’s history, more than 130 members of HESTA – the health and community services superannuation … Read More
14.5% of shareholders tell Woodside to start winding down production
19 May 2022 Responding to the shareholder vote on the Market Forces-coordinated shareholder resolution at Woodside’s AGM in Perth today, Market Forces Asset Management Campaigner Will van de Pol said: “Today 49% of Woodside’s shareholders rejected the company’s utterly inadequate approach to climate change, the largest vote against any Say … Read More
Investor demands for Santos to wind down oil and gas production increase to 15%
3 May 2022 15% of Santos’ shareholders today defied the company’s board, demanding Santos drop its rampant oil and gas expansion plans and instead manage down production in line with a net zero emissions by 2050 pathway. This is an increase on the 13% support received for a similar resolution … Read More