Market Forces

New year, new role? Join us as the new Research Manager for Market Forces! ☀️ Location: Melbourne preferred ☀️ Salary: $99,750 p.a. plus superannuation ☀️ Permanent, full time – starting January 2025 ☀ Apply via Ethical Jobs: https://lnkd.in/gSJGFb_7 This role will be a great match for someone who loves working with data and people. We're looking for people who are passionate about (and have an understanding of) climate, energy, and/or finance and have the desire to create positive change for the environment through the financial sector. If you have sophisticated research and analysis skills, strong communication skills, experience managing people, enjoy supporting your team’s development, are skilled at time management and prioritisation, and you’re a team player with a sense of humour – we want to hear from you! #climate #climatejobs #finance #ethicaljobs #melbournejobs #researchjobs

Farmers like beef producer Deanna Fernance are switching banks and super funds to discourage fossil fuel investment. #ABCnews "The floods, the fires, the storms – there's no real break in between, that is the real difference," she says. Read more: https://lnkd.in/gHr8mttD In December, three of Australia's biggest banks – ANZ, NAB and Westpac – faced shareholder resolutions over their ongoing finance for companies expanding fossil fuels. The resolutions were opposed by all three boards. But growing shareholder pressure is paying off, with Commonwealth Bank announcing it will rule out new finance for coal, oil and gas clients that lack adequate transition plans. "People want the custodians of our money to take responsibility for what they are funding." – Kyle Robertson, Market Forces

ANZ Chair tells climate scientist and IPCC lead author Professor Nigel Tapper there "are a variety of views" on whether new fossil fuel developments are incompatible with the goals of the Paris Agreement. Nigel's response: "With respect, it's not an ideological debate. It's actually the science."

NAB Chair seems to admit that a company that plans to increase coal, oil and gas production would not meet the bank's requirements for a credible transition plan, and will be refused finance after October 2025. 

What a year! Thank you to every single person who helped us hold banks, super funds and fossil fuel companies to account. 2025 will be another big year for getting finance out of fossil fuel expansion. With your help, we can build this momentum even more: https://lnkd.in/g6sS7nU6 #climateaction

The proposed #PapuaLNG project poses serious social, human rights, environmental, reputational and financial risks. Together with 30 other NGOs, Market Forces has written to MUFG and other global banks, calling on them to rule out finance for this high-risk gas project. With Groupe Crédit Agricole ending its support for Papua LNG earlier this year, Japan's largest bank MUFG has stepped in as financial advisor for the project. Now MUFG is approaching other banks to try to get them involved in financing this risky project. “MUFG’s decision to step in as financial advisor for the controversial Papua LNG project, already abandoned by French banks, underscores its glaring risk management failures.” – Eri Watanabe, Japan Energy Finance Campaigner at Market Forces --- パプアニューギニアのLNG開発（パプアLNG）事業は、気候や地域社会に多くのリスクをもたらし、財務リスクも懸念されます。 マーケット・フォースは、 三菱UFJ銀行 を始めとする世界中の銀行に対し、30の環境NGOと共に、このガス事業への融資を行わないよう求める公開書簡を送付しました。 既に、少なくとも11行がプロジェクトからの撤退を決め、仏クレディ・アグリコルが、今年パプアLNGへの支援を打ち切ったため、MUFGが財務アドバイザーに就任しました。 現在MUFGは、このリスクの高いプロジェクトへの融資に参加するよう、他の銀行にも働きかけています。 メールアクション：パプアLNG事業への融資を拒否するよう、MUFGや他の日本の銀行（三井住友銀行 （SMBC） みずほフィナンシャルグループ(Mizuho)）に対して、一緒に声を届けませんか？ Signatories: Centre for Environmental Law and Community Rights (CELCOR) JACSES Friends of the Earth Japan Kiko Network Solutions for Our Climate (기후솔루션) Asian Peoples' Movement on Debt and Development (APMDD) Jubilee Australia Research Centre ActionAid Australia Market Forces Reclaim Finance - ONG ALOFA TUVALU Liveable Arlington Fridays for Future Uganda Rainforest Action Network Oil Change International Friends of the Earth U.S. The Australia Institute BankTrack Urgewald Nordic Center for Sustainable Finance Stop Total Tuvalu Climate Action Network (TuCAN) ANV COP 21 Mekong Watch Indus Consortium Pakistan Missão Tabita Les Amis de la Terre France Innovation pour le Développement et la Protection de l'Environnement BLOOM Association Justice Institute Guyana (Inc) ReCommon

Over 1 in 4 ANZ shareholders have today voted for the bank to tighten its transition plan requirements for fossil fuel clients, and demonstrate how its fossil fuel lending will align with the Paris Agreement. "The global community has called for action to align with the Paris Agreement's 1.5ºC limit, and the science tells us that means no new fossil fuel development – including oil and gas – and a transition away from these fuels quickly.” – Bill Hare, climate scientist and CEO at Climate Analytics ANZ is Australia’s biggest financier of fossil fuel expansion, with over $20 billion in finance to the fossil fuel industry since the Paris Agreement – including massive gas expansion across the Asia Pacific. "As a climate change scientist, I'm horrified that ANZ is still lending to companies opening up new coal and gas mines leading to irreversible global warming." – Lesley Hughes, climate scientist and Councillor with the Climate Council It's time for ANZ to listen to #climate scientists and its own shareholders, and stop financing companies expanding coal, oil and gas. #parisagreement #energytransition #anz

MEDIA RELEASE: Scientists call on ANZ to listen to climate science and stop banking new fossil fuels “ANZ needs to put its money where its mouth is and align its financing with global climate goals.” – William van de Pol, CEO of Market Forces “By enabling new fossil fuel developments, ANZ is being completely inconsistent with the science, and effectively undermining global efforts to limit warming to 1.5ºC.” – Bill Hare, Climate Scientist and Climate Analytics CEO “It makes no commercial sense for our largest financial institutions to be investing in large new fossil fuel projects. Apart from the financial risk of stranded assets in the fossil fuel sector, the rapid growth and innovation in the renewables sector offers more sustainable and lucrative investment opportunities.“ – Nigel Tapper, Climate Scientist and Emeritus Professor #climate #ANZ #fossilfuels

"Our grazing operation is suffering from the impacts of climate change." NSW grazier Peter Lake is calling on his bank NAB and the other major Australian banks – ANZ, Westpac and Commonwealth Bank – to cease finance for companies expanding fossil fuels. #climate #australianfarmers #banks

Farmers across Australia have joined hundreds of shareholders calling on NAB to end finance for companies expanding coal, oil and gas production. “In recent years, our family farming business has been threatened by repeated crop failures due to droughts and record floods, and we’ve been forced to sell many of our cattle," says Peter Lake, a NSW grazier. “It’s time NAB and other big banks take a stand and cease support for companies enabling new coal and oil projects, harming the climate, our farms and businesses.” Today at NAB’s annual general meeting, Market Forces has filed a resolution with 100+ shareholders asking the bank to demonstrate how its fossil fuel finance aligns with global #climate goals. 2024 has been the hottest year ever recorded. NAB can't keep putting this off. #climatecrisis #australianfarmers