18 December 2020 As members of the Australian government seek to launch a probe into the legality of banks divesting from fossil fuels, NAB’s annual shareholder meeting saw its investors push for the bank to further limit funding in line with the Paris Agreement. In addition to a shareholder resolution … Read More
ANZ held to account for climate inaction at AGM
16 December 2020 Following the release of a lacklustre update to its climate policy in October, today’s ANZ annual general meeting (AGM) saw the bank’s board held to account for the gap between rhetoric and action on climate change. However, perhaps the bank wasn’t as prepared to bear the weight … Read More
Westpac 2020 AGM: funding climate failure is the ‘sweet spot’
11 December 2020 Westpac’s board knew they would be facing tough questions from shareholders at today’s annual general meeting (AGM) given the banks’ continued funding for Australia’s most climate-destructive companies, including Whitehaven Coal and Santos. The bank’s updated climate policy, released in May, was a step forward as it pledged … Read More
7.4% of shareholders call on Cooper Energy to wind up gas and oil production
12 November 2020 Cooper Energy, a rapidly-growing gas and oil producer focused on the south east Australian market, today faced a shareholder resolution calling on the company to wind up its fossil fuel production in a manner consistent with the Paris climate goals. This ground-breaking proposal, the first of its … Read More
Whitehaven Coal stifles debate on world-first proposal to wind down coal production
22 October 2020 Thanks to the efforts of over 100 shareholders, all of Whitehaven Coal’s investors were today forced to consider the case for the company to demonstrate how it will wind down coal operations in line with the climate goals of the Paris Agreement. However, breaking from norms around … Read More
Media Release: ANZ, NAB face shareholder resolutions on climate action
ANZ and NAB called upon to reduce exposure to fossil fuels in line with the Paris Agreement’s climate change goals. Thursday 1 October 2020 Environmental finance organisation Market Forces is today lodging shareholder resolutions with ANZ and NAB. The resolutions call for a reduction in exposure to the fossil fuel … 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
Woodside fights historic investor demand for Paris-alignment
30 April 2020 A record-breaking 50% of Woodside Petroleum’s investors today voted in favour of a shareholder proposal calling on the company to align with the Paris climate goals. This is an incredible result, considering the Woodside board’s vehement opposition to the resolution. Coordinated by the Australasian Centre for Corporate … Read More
ANZ grilled on climate inaction and secret coal plan
17 December 2019 Coal lending was on the agenda two weeks before ANZ’s annual shareholder meeting in Brisbane today, as revelations hit the news that ANZ had a secret plan to slash its thermal coal mining loans by 75% (representing more than $700 million) by 2024. The secrecy of the … Read More
Westpac: a laggard on climate change
12 December 2019 Westpac’s board knew they would be facing fired-up shareholders at today’s annual general meeting (AGM) but perhaps weren’t prepared to bear the weight of responsibility for the impacts on communities and customers fighting the climate crisis. Amid its recent scandals, the board was forced to address the … Read More
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