Archive

HSBC closes coal project funding loophole as pressure mounts

HSBC has closed a controversial loophole which allowed the bank to continue to fund coal projects in three countries, but campaigners continued to push for coal funding to be withdrawn altogether.

Malaysian banks fund coal power projects at expense of renewables

Malaysian banks continue to provide significant funding to coal power projects amid a rising number of international peers stepping back from such financing, according to a report by an Australian environmental pressure group.

Standard Chartered to exit three more coal projects amid tighter restrictions

QBE reveals coal exclusion policy

Australian insurer QBE will target zero direct investment in the thermal coal industry by 1 July 2019, according to its new energy policy.

Standard Chartered to cease financing new coal-fired power stations

Standard Chartered has announced that it will stop financing any new coal-fired power projects, in any location, as part of its commitment to support the Paris Agreement on climate change.

Energy company challenged on TCFD disclosures

Origin Energy, the largest supplier of gas and electricity in Australia, is facing a demand from shareholders that it implements the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

CBA to face shareholder resolution on climate commitment

A shareholder resolution will be lodged against Commonwealth Bank of Australia (CBA) to protest against its climate change position statement, which was branded a failure that "falls well short" of the bank's climate commitments.

'Big four' Australian banks slammed for fossil fuel backing

Australia's 'big four' banks have invested AUD17 billion ($13.5 billion) in fossil fuel extraction projects since they committed to keep global warming to well below 2°C, Australian environmental pressure group Market Forces has said.

Australian asset managers urged to divest from coal

Australian investors are having their assets endangered by portfolio managers who do not understand the climate risk to their shareholdings, environmental finance pressure group Market Forces said.