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
Another year, another $1m in political donations from fossil fuel companies
1 February 2018 Malcolm Turnbull’s personal donation of $1.75 million around the time of the 2016 Federal election may have grabbed all the headlines, but the ongoing contributions to political parties by Australia’s largest fossil fuel companies may explain why our climate policies are so appallingly weak. Fossil fuel companies … Read More
APA’s partnership with Santos faces shareholder criticism
27 October 2017 At the annual general meeting of APA held today in Sydney, company executives faced several questions from shareholders regarding their Western Slopes Pipeline project in Northern NSW. The $450 million pipeline project is a partnership with Santos to connect coal seam gas (CSG) from their Narrabri gas … Read More
Investors warned: US$2.3 trillion worth of oil and gas projects inconsistent with 2°C
A new report has found US$2.3 trillion of projected capital expenditure (capex) on upstream oil and gas projects would be wasted under a 2°C warming scenario. Produced by Carbon Tracker in partnership with UN Principles for Responsible Investment (PRI) and leading institutional investors, the report ranks the world’s 69 largest … 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
Statement: Market Forces reiterates Santos position
18 May 2017 In response to a clumsy attempt by Santos to dance around the statements that Chairman Peter Coates made at the Santos AGM on the 4th of May, Market Forces would like to issue this clarification: We know Santos is supportive of the Paris Agreement and the 2 … Read More
Media release: Santos admit to ‘four degree’ climate policy, backed by institutional investors
Adelaide, 4 May 2017 In a remarkable admission at the AGM of Australian oil and gas firm Santos today, Chairman Peter Coates revealed its business model is based on a ‘four degree’ climate pathway, completely at odds with international efforts to meet the Paris climate change agreement. The company defeated … Read More
Santos shows contempt for investors, climate change, at its AGM
Adelaide, Thursday, 4 May 2017 A resolution that would have directed Santos to disclose the risks climate change poses to its business has been defeated at today’s annual general meeting of the company, which reiterated its intent to explore for more unconventional gas and said that when considering its future under climate … Read More
Will your super fund vote for or against climate action?
Oil Search and Santos are two of Australia’s largest oil and gas companies – and neither is addressing the risks of climate change. Oil Search is one of the biggest companies operating in Papua New Guinea, a country already feeling the effects of climate change. Sea level rise has forced residents … Read More
Media Release: Santos rejects climate shareholder resolution
Santos rejects climate shareholder resolution Tuesday 4 April, 2017: Environmental finance organisation Market Forces has expressed disappointment that Santos’ management has advised shareholders to reject a resolution calling on the company to acknowledge and assess the risks posed to its business by climate change. The resolution would bring Santos in … Read More