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 underwriting new risks from companies that receive more … Read More

QBE dumps thermal coal due to global warming

QBE Sydney Market Forces action 2018

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 network from 1 July 2019, and … Read More

Media Release: Market Forces welcomes QBE’s end to coal finance

Saturday 30 March, 2019: The announcement today by Australia’s largest insurer, QBE, to end its support for the coal industry has been welcomed by environmental finance group Market Forces. “QBE’s decision to withdraw insurance from the coal industry is business and environmental good sense,” said Market Forces campaigner Pablo Brait. … Read More

Shareholders pressure QBE to end fossil fuel support

Market Forces campaigner Pablo at QBE's Sydney headquarters about to lodge shareholder resolution 2019

Today, shareholders coordinated by Market Forces together with the $2.85 billion investment manager Australian Ethical, lodged a resolution calling on QBE Insurance to set targets that reduce its investment in and underwriting of coal, oil and gas companies, in line with keeping global warming below 1.5C. This move comes off … Read More

QBE shareholders: take action!

Tell QBE you want them to adopt your shareholder resolution on phasing out fossil fuels 5 March 2019 Today, thanks to you, we lodged a shareholder resolution for QBE’s annual general meeting co-filed with Australian Ethical, an investment manager with $2.85 billion under management. They’ve joined our call for QBE … Read More

NAB hauled over the coals at its 2018 AGM

NAB was forced to lay bare its contradictory climate and environmental, social and governance (ESG) policies highlighting the vast discrepancy between what the bank says, and what it does during question-time at its annual general meeting (AGM) in Melbourne.