In-short: Westpac’s new climate plan, released late last week, is a massive backpedal on its previous position and puts it more on par with perennial climate laggard, ANZ. Westpac formerly had a clear requirement for oil and gas clients to produce a 1.5°C-aligned...
Woodside
Chaos reigned at Woodside’s AGM as the company refused to address genuine shareholder concerns
Woodside has made a habit out of dismissing shareholders’ concerns about climate change over the years, and today’s annual general meeting (AGM) was no different. On top of pressure from major investors like Aware Super and HESTA, the company faced a barrage of...
Dorothy and Toto deliver brain, heart and backbone to super funds failing on climate
AustralianSuper, HESTA and Hostplus are having trouble telling their climate claims apart from gas industry spin. So our new campaigners Dorothy and Toto delivered these funds some crucial missing parts. Nearly every super fund in Australia invests members’ retirement...
Australia’s sovereign wealth fund invests $1 billion in big coal and gas
Thursday 24 October: New Market Forces analysis reveals that the Future Fund has more than $1 billion invested in three of Australia’s biggest fossil fuel expanding companies, Woodside Energy, Santos and Whitehaven Coal. The analysis finds the Future Fund is a top 10...
Woodside seeking further debt finance to continue with its climate-wrecking gas expansion plans
Australian oil and gas company Woodside is looking to issue an “unsecured 10-year and/or 30-year bond offering,” according to LSEG, which would provide the company with a new source of finance for its gas expansion plans. While the value of the bond issuance has not...
HESTA member submits legal request for information after fund’s ineffective efforts to push for change at Woodside
A HESTA member has today increased pressure on her super fund for failing to demand an end to Woodside’s climate-wrecking gas expansion plans. Long-term HESTA member, multidisciplinary artist and musician Tash Parker has submitted a legal request for information to...
Big four Australian banks pour $3.6 billion into fossil fuels in 2023
MEDIA RELEASE Tuesday 16 July: A new report by Market Forces reveals Australia’s big four banks have poured more than AU$61 billion into fossil fuels since the global agreement to limit climate change was adopted in Paris over eight years ago. The analysis finds ANZ,...
NAB responds to shareholder warning on fossil fuel funding
NAB’s update is welcome progress but still falls short of alignment with the bank’s climate commitments.
Days of reckoning on the future of gas
OPINION | Axel Dalman, Head of Research at Market Forces The oil and gas industry had a critical opportunity at this week’s Australian Energy Producers conference, held in Perth, to exchange ideas on how to meet the existential threat posed to their business by the...
Woodside suffers world record-breaking vote against climate plan, embarrassingly large vote against Chair
Shareholders have today expressed their contempt for Woodside’s repeated failure to heed their concerns by fiercely rejecting the company’s climate strategy. Beating its own world record vote against a climate plan in 2022, a staggering 58% of Woodside’s shareholders...