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...
superannuation
Will your super fund vote for or against climate action?
Oil Search and Santos are two of Australia’s largest oil and gas companies – and neither is addressing the risks of climate change. Oil Search is one of the biggest companies operating in Papua New Guinea, a country already feeling the effects of climate change. Sea...
Aurizon wants to unlock Galilee coal – Take action!
17 March 2017 Aurizon has applied for a $1.25 billion loan from the Northern Australia Infrastructure Fund (NAIF) to construct the railway link needed to open Queensland’s Galilee Basin to coal mining. And guess what? Your super fund is most likely invested in this...
Santos shareholders lodge climate risk resolution
6 March 2017 Market Forces and over 100 individual shareholders have filed a resolution with the oil and gas major, Santos, demanding the company acknowledge and assess the risks posed to its business by climate change. The resolution is the first attempt to enforce...
IOOF deflect on climate risk
24 November 2016 IOOF is an investment management and financial services company listed in the ASX 100, administering over $130 billion on behalf of its clients. The company offers retail superannuation products, which currently boast almost half a million members....
Wesfarmers: not ‘evolving’ quickly enough
11 November 2016 Best known as the parent company of Coles, K-mart, Target, Bunnings and Officeworks, Wesfarmers also owns two open cut coal mines: Curragh in Queensland (100% owned by Wesfarmers) and Bengalla in New South Wales (40% stake). Shareholders attending the...
Beach Energy, unconventional and unsafe
10 November 2016 Beach Energy held its annual general meeting (AGM) in Adelaide today, where local campaigners for the protection of agricultural land questioned the efficacy of Beach Energy’s unconventional gas exploration in the Otway Basin. Beach Energy is...
Media Release: Australians reject super funds’ trillion-dollar secret
Melbourne, Friday 23 September, 2016: According to analysis by environmental finance campaigners Market Forces, 83% of assets under management in Australia’s fifty largest superannuation funds are undisclosed, equating to nearly $1 trillion of assets. The analysis...
Media Release: Australia’s biggest super fund rejects fossil fuels
Melbourne, Friday 15 April 2016 Market Forces is today welcoming the announcement by AustralianSuper – Australia’s largest super fund – to create a new sustainable investment option which excludes companies with fossil fuel reserves. However, the financial activist...
Media Release: Peabody bankruptcy a cautionary tale for Australian investors
Melbourne, Wednesday 13 April 2016 Today’s long-expected bankruptcy announcement by Peabody should serve a cautionary tale to Australian investors still holding fossil fuel stocks, according to financial activist group Market Forces. “Australian investors who held...