21 February 2023 Now that super funds are required to disclose their investments to members every six months, we are able to track over time which funds have the highest proportion of their members’ retirement savings invested in climate-wrecking oil and gas companies...
Santos
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...
ANZ pulls the wool over investors eyes on climate at 2022 AGM
15 December 2022 Just over 8% of shareholders voted in favour of a formal proposal calling on the bank to demonstrate how its funding would not be used for new fossil fuel projects at today's annual general meeting. Last month, a UN High-level Expert Group confirmed...
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...
Spirit Super must stop new oil and gas projects or divest from the companies pursuing them
13 December 2022 Spirit Super updated its climate targets this year, aiming to reduce both the fossil fuel reserves and carbon emissions in its investment portfolio by 50% by the end of this decade. Yet the fund remains invested in companies seeking to massively...
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...
HESTA asks the impossible of oil and gas producers Woodside, Santos and Origin, rather than divesting
In an attempt to justify continued investment in climate wrecking oil and gas producers Woodside, Santos and Origin, HESTA announced today it had asked the impossible of those companies, requesting they demonstrate how their new or proposed fossil fuel projects fit...
Santos sanctions another new project incompatible with 1.5°C
17 August 2022 Australia’s second biggest oil and gas producer, Santos, has today announced a final investment decision on the new Pikka Phase 1 oil project in Alaska. The decision comes despite the International Energy Agency’s warning that no new oil fields should...
HESTA’s investments in Santos and Woodside may be a breach of the law
The Environmental Defenders Office has sent HESTA a legal letter on behalf of HESTA members Rod and Sue. The letter states that HESTA’s investments in Santos and Woodside could be in breach of the fund's obligations to manage climate risk. The letter also claims...
Westpac: climate change commitments one week, financing climate-wreckers the next?
2 August 2022 Last week, Westpac announced it was joining the Net-Zero Banking Alliance and made some further climate change commitments that still fail to demonstrably align with the Paris Agreement’s goals. As Westpac made the announcement, another part of the...