Legal opinion: Fund trustees should consider climate risk

1 August 2017 Market Forces has released a new legal opinion on the extent to which Australian law requires superannuation trustees to consider climate change risks when managing portfolios on behalf of their members. Commissioned by Market Forces, the memorandum of opinion, Superannuation Trustee Duties and Climate Change Risk, was provided … Read More

Investing in the Galilee Basin on the agenda of the QIC

June 2017 A Market Forces Freedom of Information (FOI) request has revealed that the Queensland Treasury has held talks with Queensland Investment Corporation regarding the prospect of QIC investing in proposed Galilee Basin coal export projects. The request, which was for “records of correspondence between the Queensland Treasury and QIC … Read More

CalSTRS to completely divest from thermal coal, including Whitehaven

CalSTRS, the US$200 billion Californian State Teachers’ Retirement System, has announced it will divest all non-US thermal coal holdings from July 1. The commitment follows the fund’s decision to dump all US thermal coal holdings in December 2015. Here in Australia, the CalSTRS decision will see them sell off their holdings … Read More

Dr. Anne Poelina and Micklo Corpus defend country at Buru’s AGM

Outside the Buru Energy Annual General Meeting (AGM) 20-30 people gathered in support of Traditional Custodians  Micklo Corpus Yawuru and Dr Anne Poelina, a Nyikina Warrwa woman from the West Kimberley region of Western Australia. Noongar Elder Uncle Ben Taylor, accompanied by Mick Fuller on didgeridoo, did an official Welcome … Read More

FAR: ‘two degrees is laughable in the extreme’

FAR is an Australian owned oil and gas company which operates in Guinea-Bissau, Kenya, Australia and Senegal, a country already facing severe impacts from climate change. Currently the executive bonuses of FAR are tied to how much oil and gas they find. CEO Catherine Norman receives up to $100,000 per … Read More

Sundance: Not aware of any risks from climate change

25 May 2017 Sundance Energy, the company that had its annual general meeting in Adelaide today, has had a tough run lately. US Secretary of State and former CEO of Exxon Mobil Mr. Tillerson sued them because he alleged that his $5 million property was in danger due to Sundance’s … 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