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 “considering selectively reducing exposure to high emitting … Read More

Westpac sees climate impacts, increases fossil fuel exposure

Westpac, which has committed to net-zero emissions by 2050 and the goals of the Paris Agreement, revealed an 11% increase in FY22 of its overall exposure to fossil fuels, with the increases attributed to customers in the coal rail transportation, LNG terminal, and oil and gas sectors.  Westpac cited that … Read More

ANZ missing its own climate mark

ANZ, which claims to be committed to net-zero emissions by 2050 and the goals of the Paris Agreement, today revealed significant increases in the emissions intensity of its power generation portfolio and its overall oil and gas exposure.  In FY22, ANZ increased its exposure to upstream oil and gas extraction, … Read More

Big super funds quietly selling down shares in Santos and Woodside

18 October 2022 The latest round of mandatory super fund disclosures reveal that most of Australia’s biggest super funds are selling shares in climate wrecking oil and gas companies Santos and Woodside. Some funds, however, have significantly increased their stake in these companies, which are both pursuing new oil and … Read More

New analysis: Australia’s biggest super funds fractured on fossil gas

MEDIA RELEASE Tuesday 18 October: New analysis by Market Forces reveals some of Australia’s biggest super funds have been selling millions of shares in oil and gas giants Woodside and Santos, while others are investing heavily in these climate-wrecking companies. The Market Forces study finds 11 out of the 14 … Read More

UniSuper climate report is hot air and poor action

MEDIA RELEASE Wednesday 14 September: UniSuper’s new climate risk report reveals the mega fund has continued quietly selling down its investments in Australia’s largest gas producer, Woodside, and to a lesser extent, fellow climate-wrecking oil and gas expander, Santos. Despite mergers and share price changes that would have seen UniSuper’s … Read More

Super funds ‘sustainable’ options invest in fossil fuel expansion

MEDIA RELEASE: 21 July 2022 New analysis by Market Forces reveals several super funds are potentially misleading consumers and contravening the Australian corporate regulator’s ‘greenwashing’ advice. Eight of 11 major super fund investment options labelled ‘sustainable’ or ‘socially responsible’ are investing in companies expanding the fossil fuel sector. The analysis … Read More