At Whitehaven Coal’s annual general meeting (AGM) today, almost 10% of shareholder votes were cast in favour of a Market Forces-coordinated proposal calling on the company to demonstrate how spending on new and expanded coal mines is a better use of capital than...
Whitehaven Coal
Time for AustralianSuper to walk the talk on climate
By Will van de Pol, Chief Executive Officer, Market Forces AustralianSuper is not shy about its role and responsibility in managing the escalating investment risks climate change poses to the retirement nest eggs of its three and half million members. Let’s make no...
AustralianSuper re-invests in Whitehaven, claims thermal coal is “important” in energy transition
AustralianSuper is the largest super fund in Australia, managing $367 billion in retirement savings on behalf of more than 3.5 million members. Unfortunately AustralianSuper is now the second-largest shareholder in Whitehaven Coal, which has the biggest coal expansion...
Investors greenlight Whitehaven’s staggering pipeline of coal expansion plans
Whitehaven Coal faced intense questioning from shareholders and continued investor discontent from several major investors at its annual general meeting (AGM) held in Sydney on Wednesday. The company’s remuneration plan received a 13% vote against it, signalling...
Whitehaven faces heat over executive pay linked to huge coal expansion
Wednesday 30 October: Market Forces has joined with more than 100 shareholders calling on investors to vote against Whitehaven Coal’s remuneration plan for its executives at the company’s annual general meeting (AGM) today. New Market Forces analysis finds Whitehaven...
Australia’s sovereign wealth fund invests $1 billion in big coal and gas
Thursday 24 October: New Market Forces analysis reveals that the Future Fund has more than $1 billion invested in three of Australia’s biggest fossil fuel expanding companies, Woodside Energy, Santos and Whitehaven Coal. The analysis finds the Future Fund is a top 10...
Super funds invest $39 billion in fossil fuel growth
MEDIA RELEASE Tuesday 28 May: A new Market Forces report reveals Australia’s top 30 super funds have more than $39 billion invested in companies globally with the biggest fossil fuel expansion plans. Investments in this group of 190 companies - dubbed The Climate...
After the hottest year on record, Bank of America backtracks on coal
In October last year, Bank of America was the only major US bank to back Whitehaven Coal (along with up-and-comer investment bank Jefferies) by providing a $900 million dollar loan to Whitehaven for its acquisition of the Blackwater and Daunia mines. Today is Bank of...
Meet the new bank of choice for Australian coal miners – Jefferies Group
28 March 2024 Today is the annual general meeting of Jefferies Group, one of Whitehaven Coal’s most recent bankers. In the last few years, Jefferies has come up as a new bank of choice for other Australian coal companies in Australia. We first took note of the...
2023 Coal Season Wrap up
The year 2023 saw the Australian coal industry become increasingly financially ostracised. As the rest of the world transitions away from the dirtiest fossil fuel, coal miners have to look further afield for funding which once came easily. Our movement has put...