22 October 2021 Amidst ever-worsening extreme weather and the hits to their bottom lines it is causing, two of Australia’s three big insurers faced shareholders at their annual general meetings (AGM) recently (IAG was today, Suncorp on September 23rd). Over the last two years both have taken significant steps away … Read More
QBE kicks climate can down the road & keeps supporting oil and gas expansions despite massive loss
19 February 2021 Together with the announcement of a massive A$2b loss due in part to ever-worsening extreme weather, fuelled by the burning of oil and gas, QBE’s updated Environmental and Social Risk Framework, released today, includes oil and gas targets which ignore the urgency of the climate crisis and … Read More
Mark’s historic super fund legal win
5 November 2020 You may have seen the news this week about 25-year-old Brisbane ecologist Mark McVeigh, who won a historic legal battle against his $57 billion super fund, Rest, over climate change. What you may not know is that Mark used Market Forces’ research and tools to start asking … Read More
Suncorp and IAG dumping fossil fuels but policy gaps remain
23 October 2020 Amidst ever-worsening extreme weather and the hits to their bottom lines it is causing, two of Australia’s three big insurers faced shareholders at their annual general meetings this week. Over the last 18 months both have taken significant steps away from supporting coal, oil and gas in … Read More
Super funds are slowly moving on climate action – are your retirement savings still invested in climate destruction?
6 October 2020 2020 has seen some significant shifts in how super funds are dealing with climate change and the risks it poses, resulting in hundreds of millions of dollars being withdrawn from some of Australia’s dirtiest companies. Millions more Australians no longer have their retirement savings invested in these … Read More
Suncorp out of oil and gas drilling, leaving QBE isolated
21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government’s gas expansion plans, with an updated policy released today that bans the company from investing in, financing and insuring new and additional oil and gas exploration and production. In 2020, … Read More
Media release: Suncorp rules itself out of Government’s gas push
For immediate release, 21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government’s gas expansion plans, with an updated policy released today that bans the major Australia-based insurance company from investing in, financing and insuring new and additional oil and … Read More
Insurance “red zones” spread across Australia. Insurers making it worse
19 November 2019 The number of households whose insurance premiums have become unaffordable is rising at an alarming rate across Australia. This is because of more extreme weather events and rising sea levels, which are linked directly to global warming. Unfortunately, it’s a situation that will only get worse while … Read More
Suncorp faces heat at its AGM as losses mount on climate impacts
Brisbane, 26 September 2019 The climate crisis dominated Suncorp’s annual general meeting in Brisbane today, from the Chairman and CEO reporting losses from extreme weather events, shareholders bringing personal stories of how climate impacts are destroying their lives, right the way through to the last item of business – a … Read More
Suncorp and QBE abandon coal but are still undermining Paris Agreement
1 August 2019 The insurance sector globally is waking up to the fact that if it wants to avoid the growing impact on its profits caused by the climate crisis, it needs to stop providing insurance to and investing in the companies that are fuelling it. At least 16 major … Read More