10 August 2022 As a lender to Whitehaven Coal and Adani Enterprises, both companies investing heavily in expanding thermal coal mining, Deutsche Bank has been a financial institution of concern for some time. However the bank’s 2020 policy on thermal coal mining,...
thermal coal
BHP to close Mt Arthur thermal coal mine by 2030
16 June 2022 BHP today announced it will close its last thermal coal mine, Mt Arthur in NSW's Hunter Valley, by the end of the 2030 financial year. This is an important and pleasing departure from BHP's previous plans and actions relating to its fossil fuel assets,...
Win! Deutsche Bank abandons Whitehaven Coal’s bond issue
20 May 2022 A media report in Germany confirmed publicly this week that Deutsche Bank has withdrawn from its involvement in a bond issue for climate-wrecking Whitehaven Coal, following a concerted people-powered campaign coordinated by Market Forces. Business...
Whitehaven Coal found producing far more thermal coal than environmental assessment estimates
11 May 2022 Whitehaven Coal is Australia’s biggest publicly-listed pure play coal mining company. It operates four coal mines in New South Wales, and is pursuing a further three new or expanded mines that could double the company’s coal production by 2030. The...
The giant stirs. First State Super to divest thermal coal mining
9 July 2020 First State Super today released its new Climate Change Adaptation Plan, with the headlines being that Australia's second biggest superannuation fund would finally start to divest from thermal coal mining companies from October, and would set targets to...
Choked by Coal: the Carbon Catastrophe in Bangladesh
Choked by Coal: the Carbon Catastrophe in Bangladesh New analysis shows China, UK and Japan driving 63-fold coal power expansion in Bangladesh Media Release: 6 November 2019 Massive coal-based power expansion in Bangladesh is set to propel it into the ranks of the...
Media release: Commbank out of thermal coal by 2030
New fossil fuel projects must prove carbon compliance Wednesday 7 August 2019 In today’s commitment, made in the bank’s new Environmental and Social Framework, to exit thermal coal by 2030, Commonwealth Bank has issued a stark warning to industry and policy-makers...
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...
Media release: Chubb’s coal policy has an Australia-sized loophole
July 9, 2019 Chubb’s new restrictions on its underwriting and investments in thermal coal have come under attack from Australia, as groups there call upon the insurer to clarify its stance on the controversial Adani Carmichael coal project. Chubb’s policy rules out...
QBE dumps thermal coal due to global warming
2 April 2019 On Saturday, Australia’s biggest coal underwriter (insurer) took the positive step of committing to phase out its entire thermal coal business by 1 January 2030. QBE also ruled out providing insurance to any new thermal coal mine, power plant or transport...