Aurizon doesn’t want to become ‘public enemy number one’

18 October 2018 Aurizon’s relationship with Indian coal mining giant Adani dominated question time at its annual general meeting in Brisbane today. Last month, Adani proposed a shorter rail line that would link its proposed Carmichael mega mine in the Galilee Basin to Aurizon’s existing Central Queensland Coal Network. “Would … Read More

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

Climate risk disclosure: Transurban still in the slow lane

“…we don’t consider it [climate change] to be one of the significant business risks or financial risks for Transurban” Marcus Laithwaite, auditor   11 October 2018 You might not have heard of the company, but chances are you’ve driven on one of their roads.  Transurban operates major tollways in Australia … 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

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 UN 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

FAR directors change their opinion about climate risk

FAR, an Australian oil and gas exploration company that operates mainly in Senegal, finally accepted the importance of climate change as a business risk at their annual general meeting (AGM) today. This was in sharp contrast to last year’s AGM where the topic was not mentioned until question time, and … Read More