MEDIA RELEASE Tuesday 30 May: A new report by Market Forces reveals Australia’s big four banks have used smoke and mirrors to continue pouring billions of dollars into fossil fuel expansion. The report - Banking Climate Failure - finds ANZ, Commonwealth Bank of...
Whitehaven Coal
Big four banks loan $10.7 billion to coal since Paris Agreement
10 May 2023 Market Forces’ new analysis shows Australia’s big four banks – ANZ, Commonwealth Bank, NAB and Westpac – have loaned a combined $10.7 billion to the coal industry since the Paris Agreement was signed, with ANZ ($3.6 billion) and NAB ($3.3 billion) the...
Whitehaven rushing ahead with new coal mine, backed by NAB and Westpac
2 May 2023 Whitehaven Coal has announced plans to start production at a new coal mine this year, flying in the face of global efforts to limit warming to 1.5°C. What’s worse, the company is pursuing these plans with the financial backing of two of Australia’s biggest...
NAB gets dangerously close to climate policy breach
NAB, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today released its inaugural Climate Report and once again failed to commit to ruling out financing companies building new fossil fuel projects. NAB said it will be...
Shareholders demand clear transition for major Australian coal company
MEDIA RELEASE Wednesday 26 October: Market Forces and Whitehaven Coal shareholders are calling on the major Australian coal miner to demonstrate how it will wind down its production in line with global climate goals. More than 100 shareholders have joined Market...
More than 20% of Whitehaven shareholders reject climate-wrecking new coal plans
26 October 2022 Whitehaven Coal faced backlash from big investors and community members both inside and outside its annual general meeting, held in Sydney today. Despite record coal prices and company profits, more than a fifth of Whitehaven’s shareholders...
Big four Australian banks face shareholder climate backlash at AGMs
MEDIA RELEASE Tuesday 11 October 2022: Shareholder resolutions have been lodged with ANZ, NAB and Westpac calling on the banks to stop financing coal, oil and gas expansion. The resolutions, lodged by hundreds of shareholders and coordinated by environmental...
Coal miners looking to self-insure new climate-wrecking projects
Since 2021, coal miners, including Adani/Bravus, New Hope and Whitehaven, have complained openly of difficulties securing insurance for their destructive activities. 45 major insurers have ruled out any coverage of Adani’s Carmichael coal mine, and according to Insure...
Shareholders demand coal wind down plan from Whitehaven
Media release: 25 August 2022 - For Immediate Release Market Forces and Whitehaven Coal shareholders have filed a resolution, calling on one of Australia’s largest coal miners to wind down its production in line with global climate goals. The resolution points out the...
Legal advice says Deutsche Bank breaching own coal policy by financing companies building new coal mines
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,...