Wednesday 20 May: More than 160 shareholders have joined with Market Forces to demand Macquarie Group explains how increasing its fossil fuel lending, slashing its green energy investments and watering down its climate strategy is consistent with its commitment to the...
Westpac
New analysis: Santos contributes to quadrupled gas prices for Australians
Wednesday 8 April: New Market Forces analysis reveals Australia’s second biggest oil and gas company, Santos, is contributing to nearly quadrupled gas prices on the East Coast of the country by prioritising the sale of its fossil fuels overseas, adding to cost of...
We’re all paying the price of banks and pension funds fuelling climate disasters
By Kyle Robertson, Head of Research, Market Forces. People across Asia and Australia are experiencing another scorching season of deadly and terrifying wildfires, heatwaves and floods. The world has just endured the three hottest years on record according to the World...
Emergency Leaders, shareholders warn Westpac: meet climate pledges
Emergency Leaders have joined shareholders warning Westpac has a duty to meet its climate commitments by ending finance for companies expanding coal, oil and gas, fuelling worsening bushfires, floods and deadly heatwaves. The warning from Emergency Leaders for Climate...
Australia’s big banks face big climate decisions
By Will van de Pol, Chief Executive, Market Forces AS LIBERAL MEMBERS squabble after formally rejecting the scientific and economic imperative to reach net zero greenhouse gas emissions, a division is also starting to open up among the nation’s largest banks....
Big four banks fund major fossil fuel firms $43 billion in 10 years
Wednesday 12 November: New analysis by Market Forces finds that in the decade since the Paris Agreement was adopted to rein in climate change, Australia’s big four banks – ANZ, Commonwealth Bank, NAB, and Westpac – have provided AU$43.4 billion to the world’s major...
Westpac’s new climate plan betrays scientific reality
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...
Retail banks in Australia ‘burning our future’: pour $74 billion into fossil fuels
Tuesday 11 February: New Market Forces analysis finds 10 retail banks in Australia committed AU $74.4 billion in finance to fossil fuel companies around the world in 2023. The new report - The Dirty Ten: Banks in Australia still backing fossil fuels - also finds that...
Emergency Leaders, shareholders call on big four banks to end finance for new fossil fuels
Friday 13 December: Emergency Leaders have joined bushfire survivors and hundreds of shareholders calling on the big four Australian banks to end finance for companies expanding coal, oil and gas production. The calls by Emergency Leaders for Climate Action come as...
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...