Media release: Suncorp dumps thermal coal

26 July 2019 In response to Market Forces lodging a shareholder resolution, Suncorp has revealed it is exiting the thermal coal sector, meaning there are now no Australian insurers willing to underwrite new thermal coal mines and power stations. A Suncorp spokesman told InsuranceNews, “Suncorp does not directly invest in, … Read More

Suncorp: The last major Australian insurer supporting new coal

Bush fire in Queensland

11 April, 2019 One of Australia’s biggest insurance companies has ended up being the last major insurer still open to providing insurance to (underwriting) new thermal coal projects. Suncorp, which owns brands AAMI, GIO, APIA and Just Car, was put into this embarrassing position after competitor QBE announced an end … Read More

Do you own a piece of these dirty fossil fuel projects?

Is this your dirty fossil fuel project?

21 November 2018 Super funds invest our retirement nest eggs in major infrastructure projects and assets, not just companies. This means you are likely to own a piece of some of the biggest, dirtiest fossil fuels projects on the planet. Market Forces has found widespread investment in fossil fuel infrastructure … Read More

Suncorp continues to divest from fossil fuels

20 September 2018 Today Suncorp demonstrated it has climate change firmly on its agenda and confirmed it continues to divest from fossil fuels. The company is one of Australia’s largest insurance providers, a sector recognised as highly exposed to the physical risks posed by climate change, such as weather-related catastrophes. Earlier this year, … Read More

Shareholder Action 2017

Market Forces is working with shareholders to put climate change on the agenda of Australia’s biggest companies, and getting some great results. Below are some highlights from annual general meetings held in the second half of 2017. Get involvedDONATE TO SUPPORT OUR SHAREHOLDER ACTIVISM WORKUse your power as a shareholder … Read More

Suncorp to divest from fossil fuels?

21 September 2017 At Suncorp’s Annual General Meeting (AGM) in Brisbane today, company chair Ziggy Switkowski made the quite unexpected commitment to reduce the company’s fossil fuel exposure to an ‘immaterial’ amount over the next two years. The revelation came in response to repeated questions from shareholders about climate change, … Read More