In a win that’s been a long time coming, news broke this week that Australia’s largest independent coal miner Whitehaven Coal is currently unbankable. This is a major development that further proves the effectiveness of the people-powered movement to drive finance out of fossil fuels! Earlier this week, Whitehaven announced … Read More
NAB fails to address fossil fuel lending loopholes at 2022 AGM
16 December 2022 NAB faces shareholder backlash over continued support for new fossil fuels at 2022 AGM Today, National Australia Bank (NAB) faced a formal proposal from shareholders asking it to demonstrate how the company’s financing would not be used for the purposes of new or expanded fossil fuel projects. … Read More
Westpac’s ‘laughable’ greenwashing called out at 2022 AGM
14 December 2022 Over 10% of Westpac’s shareholders defied the board to support a formal proposal calling on the bank to demonstrate how its funding won’t be used for new fossil fuel projects at today’s annual general meeting (AGM) in Melbourne. The bank was also grilled over the community costs … Read More
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 demanded the company stop expanding and start managing down coal mining … Read More
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 Our Future, 41 major insurers have some broader coal exclusion policy in … Read More
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 glaring inconsistency between Whitehaven’s public declarations of … Read More
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, stating “we will not provide any financing for … Read More
Win! Deutsche Bank abandons Whitehaven Coal’s bond issue
20 May 2022 A media report in Germany confirmed publicly this week that Deutsche Bank has withdrawn from its involvement in a bond issue for climate-wrecking Whitehaven Coal, following a concerted people-powered campaign coordinated by Market Forces. Business media outlet Handelsblatt reported on Wednesday that: “According to information from financial … Read More
Whitehaven Coal found producing far more thermal coal than environmental assessment estimates
11 May 2022 Whitehaven Coal is Australia’s biggest publicly-listed pure play coal mining company. It operates four coal mines in New South Wales, and is pursuing a further three new or expanded mines that could double the company’s coal production by 2030. The company’s coal expansion plans are completely out … Read More
Deutsche Bank staff survey 2022
21 March 2022 Thank-you for taking the time to fill out this survey. Its purpose is to understand the views of Deutsche Bank employees regarding the bank’s reported decision to arrange finance for Whitehaven Coal, one of Australia’s most controversial coal mining companies. The survey is anonymous and takes about … Read More