Will this mean it says ‘no’ to a $500m loan to gas company Santos? 9 September 2020 ANZ CEO Shayne Elliot says the bank will drop customers who fail to develop low carbon transition plans. Speaking at ANZ’s 2020 ESG briefing yesterday, Elliot said: “But if we get to a … Read More
Australia’s pariah projects: the fossil fuel proposals threatening to bust our climate goals
Since January 2016, just after expressing support for the climate goals of the Paris Agreement, Australia’s major banks did something our climate simply cannot afford; they poured billions of dollars into projects and companies expanding the scale of the fossil fuel industry. Despite warnings from economists and scientists that our … 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
Oil Search must abandon oil and gas expansion
1 May 2020 Oil Search, Australia’s third largest pure play oil and gas company, today told shareholders its current strategic review will lead the company to “settling on a strategy that is consistent with the interests of shareholders.“ Company Chair Richard Lee went on to say, “we wouldn’t set in … Read More
Woodside fights historic investor demand for Paris-alignment
30 April 2020 A record-breaking 50% of Woodside Petroleum’s investors today voted in favour of a shareholder proposal calling on the company to align with the Paris climate goals. This is an incredible result, considering the Woodside board’s vehement opposition to the resolution. Coordinated by the Australasian Centre for Corporate … Read More
The investors helping Woodside weather one crisis but not the other
28 April 2020 Woodside Energy is Australia’s largest gas producer, with a focus on liquefying and exporting gas, a fossil fuel the use of which cannot be expanded if we’re to limit global warming to 1.5°C. Woodside is headquartered in Western Australia, where most of its projects are located, including … Read More
Super funds continue to block climate action
23 April 2020 Major super funds in Australia are continuing to vote, on behalf of their members, against the majority of shareholder proposals that would improve companies’ climate risk management. By investing our retirement savings in company shares, super funds get a say in how those companies are run. Our … Read More
Australia’s major political parties, brought to you by fossil fuels!
February 2020 Every year, Australian governments and their departments spend billions of dollars of your money so that more coal, gas and oil can be extracted and burned. Favourable decisions include: tax-based subsidies direct contributions concessional loans from public financial institutions lax environmental laws and approvals for disastrous projects. Meanwhile, … Read More
Woodside CEO admits gas the loser if the world limits warming to 1.5 degrees
In a week where climate change dominated global headlines with the UK Parliament’s declaration of a climate emergency and school strikers taking to the streets in over 500 locations worldwide, corporate Australia was also facing increasing scrutiny on climate change. Woodside’s annual general meeting on Thursday 2 May 2019 in … Read More
Woodside say they have “no stranded assets”
19 April 2018 “We don’t believe that we have stranded assets,” said Woodside chairman Michael Chaney when asked about the oil and gas company’s new Scarborough gas field at today’s AGM. Watch the response here: This directly contradicts the findings of UK think tank Carbon Tracker which warned last year … Read More
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