94% of Beach Energy investors reject capital protection

Beach Energy field

25 November 2020 5.4% of shareholders today formally called on Australian-focused gas and oil company Beach Energy to wind up its fossil fuel production in line with the goals of the Paris Agreement by voting in favour of a resolution put forward by more than 100 shareholders, supported by Market … Read More

AGL refuses to wind up coal power in line with Paris goals

7 October 2020 AGL today refused to adopt a shareholder proposal to bring forward the closure of its coal fired power stations in line with the company’s own analysis of closure dates required to meet the Paris Agreement’s 1.5°C warming goal. Big investors, including many of Australia’s super funds supported … Read More

Shareholder resolutions call for fossil fuel wind up plans

Market Forces is supporting shareholders to call on companies to demonstrate how they will ‘wind up’ (bring about an end to) coal, oil and gas production over time, protecting money from being wasted on new projects, and supporting workers as the economy rapidly moves on from fossil fuels to meet … 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

IAG Shareholder action

Take Action: Write to IAG and ask it to follow-through on the commitments made at its 2019 annual general meeting. IAG AGM report: 25 October 2019 At its annual general meeting (AGM) in Sydney today, IAG faced calls from investors to fully disclose its fossil fuel investment exposure and set … Read More

IAG obscures its fossil fuel investments

25 October 2019 At its annual general meeting (AGM) in Sydney today, IAG faced calls from investors to fully disclose its fossil fuel investment exposure and set targets to reduce that exposure in line with limiting global warming to 1.5 degrees. IAG’s chair said getting fossil fuel exposure down to … 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

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