Paris climate goals not on the menu at Treasury Wines

18 October 2018 Wildfires tore through the Napa Valley in October 2017, devastating the Californian wine industry. As the hills went up in flames, the estates owned and operated by Treasury Wine Estates (TWE) miraculously survived with only minor damage. The fires, widely linked to climate change, were a focus … Read More

Orora yet to fully unpack climate change risk

16 October 2018 Even if you’ve never heard of Orora, you’ve probably come across the company before. You might have used their packaging when drinking beer or a bottle of wine – they’re a large packaging company that produce glass bottles, aluminum cans, and other packaging equipment. They’re also one … Read More

Magellan can’t see risks to its own business

Magellan Financial Group’s (MFG) deputy investment officer Dominico Giuliano recently made statements in the media about the need for accurate climate risk disclosure. At its annual general meeting (AGM) today, however, the company seemed to think that climate change risks didn’t apply to them Serious oversight Earlier this year, Giulano publicly scolded some … Read More

Meeting Paris Agreement goals is not a matter for ASX board

4 October 2018  With its high proportion of coal and gas producers, the ASX All Australian 50 index has been rated the most exposed market to potential stranded [fossil fuel] assets. These are coal, oil and gas reserves that cannot be burnt if we want to stay well below two degrees … Read More

AGL reaffirms closing Liddell coal-fired power station by 2022

26 September 2018 Today energy giant AGL faced angry community representatives and shareholders at its annual general meeting (AGM) in Melbourne. Most of question time was taken up by the Western Port community voicing their concerns over Crib Point, with the board becoming visibly frustrated at having to engage with the … Read More

Who’s coming clean on climate risk?

10 September 2018 If you’ve been following our work closely over the last couple of years, you’ll know we’ve put a lot of effort into forcing companies to come clean on the financial risks they face from climate change. If this is news to you, you may want to have … Read More

Investing in the Dark

Australia’s largest companies are making painfully slow progress towards climate risk disclosure, demonstrating a need for increased action from investors and regulators. Since March, while companies’ reporting on climate risk governance has significantly improved, very little movement has occurred on some of the integral ‘strategy’ elements of climate risk disclosure. The … Read More

QBE to review climate risk of investments and underwriting

16 August 2018 Yesterday, volunteers from Market Forces and 350.org visited QBE’s head office in Sydney and spoke to staff about its climate change policies. QBE, Australia’s largest global insurer, is facing increasing pressure to end its support for fossil fuels. The company is an important provider of insurance to … Read More

Macquarie to produce climate risk scenario analysis

26 July 2018 “Risk has always been at the heart of Macquarie”, said Nicholas Moore, managing director and chief executive officer at today’s annual general meeting in Sydney.  As part of its risk framework, Macquarie Group will now begin producing a scenario analysis – stress testing the group’s multi-billion dollar … Read More

AusNet: no commitment on the Task Force

AusNet own and operate the Victorian electricity transmission network, which is mainly powered by brown coal in the Latrobe Valley. Since Australia needs to keep 95% of its coal in the ground to meet the Paris Agreement’s goal of holding global warming well below two degrees, this means the company’s … Read More