1 April 2021
Over the coming weeks, your super fund has a number of huge opportunities to demand real climate action from some of Australia’s biggest gas companies, as well as globally-significant fossil fuel financiers and developers.
By investing your retirement savings in these companies, your super fund gets a say in how they are run. Tell your fund to use that power to drive the transition from dirty fossil fuels to a clean energy future!
Market Forces has worked with shareholders to ensure major investors, including your super fund, will soon get to vote on:
- Should major oil and gas producers Santos, Woodside and Oil Search demonstrate how they will bring about an end to fossil fuel production?
- Should Australian insurer QBE, UK bank Barclays and Japanese companies Sumitomo Corp and Mitsubishi UFJ Financial Group phase out fossil fuel exposure in line with the Paris climate goals?
We’ve made it easy to tell your super fund to vote FOR these important climate proposals. Use the form on this page to send a message to your fund today!
Tell your super fund to vote for climate action from corporate Australia.
What are these votes about?
Santos, Woodside and Oil Search are all planning to massively increase gas production, when we know gas use needs to rapidly decline if we are to limit global warming to 1.5°C.
Market Forces has worked with shareholders to make formal proposals (known as resolutions), which call on all three companies to demonstrate how they will bring about an end to oil and gas production over time, protecting money from being wasted on new projects, and supporting workers as the economy rapidly moves on from fossil fuels to meet the Paris Agreement.
QBE currently provides the insurance that oil rigs and gas pipelines need to operate. These destructive industries are fuelling the ever-worsening heatwaves, storms, droughts and bushfires we are experiencing across the world. We’ve worked with shareholders to develop a resolution calling on QBE to stop insuring and investing in the oil and gas industries.
Japan’s Sumitomo Corporation is a major developer of coal-fired power plants and is also involved in coal mining, while MUFG, Japan’s biggest bank, is a significant financier of fossil fuels. UK bank Barclays is Europe’s biggest lender to fossil fuels. Resolutions call on each of these companies to disclose strategies and targets to align their businesses with the climate goals of the Paris Agreement.
These resolutions will be voted on by all shareholders, including major investors like our super funds, at the companies’ upcoming annual general meetings. The first of these meetings are on 15 April, so your super fund needs to hear from you today!