This week the United Nations-convened Net Zero Banking Alliance (NZBA) overwhelmingly voted in favour of abandoning its commitment to “transition all…attributable GHG emissions from our lending and investment portfolios to align with pathways to net-zero by...
coal
Scientists call on ANZ to listen to science and stop banking new fossil fuels
Thursday 19 December: Climate change scientists have backed hundreds of shareholders demanding ANZ and all big four Australian banks meet their climate commitments by ending finance for companies developing new and expanded fossil fuel projects. The calls by...
Farmers join shareholders to demand NAB ends finance for new fossil fuels
Wednesday 18 December: Farmers across Australia have joined hundreds of shareholders calling on NAB and all big four Australian banks to end finance for companies expanding coal, oil and gas production. The calls by farmers come as NAB - which calls itself the...
ANZ, NAB and Westpac still have no clear plan to stop financing fossil fuel expansion
ANZ, NAB and Westpac all released their annual Climate Reports last month, with mostly disappointing results. The key takeaway is that the door is still open for fossil fuel companies to keep receiving more finance for their climate destroying expansion plans. Take...
Investors greenlight Whitehaven’s staggering pipeline of coal expansion plans
Whitehaven Coal faced intense questioning from shareholders and continued investor discontent from several major investors at its annual general meeting (AGM) held in Sydney on Wednesday. The company’s remuneration plan received a 13% vote against it, signalling...
Whitehaven faces heat over executive pay linked to huge coal expansion
Wednesday 30 October: Market Forces has joined with more than 100 shareholders calling on investors to vote against Whitehaven Coal’s remuneration plan for its executives at the company’s annual general meeting (AGM) today. New Market Forces analysis finds Whitehaven...
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...
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,...
Top super fund re-invests in coal expansion
MEDIA RELEASE Tuesday 25 June: New Market Forces analysis reveals a top 30 super fund has walked back its fossil fuel exclusion policy, re-exposing its members’ retirement savings to one of Australia’s biggest thermal coal miners, Whitehaven. The new research finds...
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.