15 September 2021 The federal Environment Minister has just signed-off approval for Whitehaven’s climate-wrecking Vickery coal mine. But Whitehaven still needs to find enough money to match the mine’s $600 million price-tag. Despite stating their support for the Paris Agreement, NAB and Westpac loaned a combined $220 million to Whitehaven … Read More
Coal affair sinks Mark Vaile’s uni application
23 June 2021 Thanks to an enormous backlash from students, staff, alumni, donors and the NTEU, former Deputy Prime Minister and chairman of Whitehaven Coal Mark Vaile decided to walk away from his appointment as the next chancellor of Newcastle University [1]. Vaile’s decision underscores that associating with the climate-wrecking … Read More
Spotlight on big banks after landmark court decision
28 May 2021 In a landmark judgment yesterday about Whitehaven’s proposed Vickery coal mine, Australia’s Federal Court decided that the national environment minister has a duty of care not to cause harm to young people from climate change. According to Ava Princi, one of the eight school students who brought … Read More
Big banks snub local farmers concerned about Whitehaven Coal
12 April 2021 Whitehaven Coal is one of the biggest coal mining corporations on the Australian share market and some of the world’s biggest banks, including Westpac, Credit Suisse and Deutsche Bank, played a key role in lending $1 billion to the company in 2020. ANZ and Commonwealth Bank have … Read More
AustralianSuper’s new climate policy fails to raise the bar
17 November 2020 AustralianSuper’s new climate change policy has failed to even match, let alone improve on, the standard set by some of its big industry fund peers, disappointing members who were hoping to see the nation’s largest super fund take the lead on climate action. While there are some … Read More
Whitehaven Coal stifles debate on world-first proposal to wind down coal production
22 October 2020 Thanks to the efforts of over 100 shareholders, all of Whitehaven Coal’s investors were today forced to consider the case for the company to demonstrate how it will wind down coal operations in line with the climate goals of the Paris Agreement. However, breaking from norms around … Read More
Media release: Whitehaven faces world-first resolution to wind down its coal operations
22 October 2020 – For immediate release Institutional investors will today vote on a world first shareholder resolution, calling on Whitehaven Coal to demonstrate how it will wind down coal operations in line with global climate change targets. The resolution, which will be put to Whitehaven Coal’s AGM today, challenges … Read More
Shareholder resolutions call for fossil fuel wind up plans
Market Forces is supporting shareholders to call on companies to demonstrate how they will ‘wind up’ (bring about an end to) coal, oil and gas production over time, protecting money from being wasted on new projects, and supporting workers as the economy rapidly moves on from fossil fuels to meet … Read More
Australia’s pariah projects: the fossil fuel proposals threatening to bust our climate goals
Australia’s ‘big four’ banks – ANZ, CommBank, NAB and Westpac – have all publicly championed the Paris Agreement. They have also committed to the global goal of net zero emissions by 2050, even though the current state of climate science means we should be aiming for net-zero emissions far sooner. … Read More
Fossil fuel investments tanking
16 May 2020 The value of Australia’s fossil fuel producers has tanked over the last 10 years, a trend which has been exacerbated during the Covid-19 pandemic. We identified 11 companies in the top 300 listed on the Australian share market (ASX 300) whose sole business is producing coal, oil … Read More