Australasian Centre for Corporate Responsibility (ACCR)

Labor keeps ‘dire’ climate report under wraps The government has delayed the release of a “shocking” assessment of climate change’s effect on the economy, just weeks before its 2035 target decision.

The draft report identified 56 “nationally significant climate risks” in eight areas, including defence, the economy, primary industries, regional communities, and health and social support. www.afr.com/policy/energ...

No targets: How Australia’s wealthiest state went rogue on emissions Report reveals WA’s gross emissions have ballooned by nearly 50 pct above 2005 levels, largely due to the development of its massive gas industry.

The state of Western Australia must target emission reductions of between 17-45% below 2005 levels by 2030, and 42-64% by 2035, to keep up with the Paris Agreement to limit global warming to 1.5°C, a new Climate Analytics report has found. reneweconomy.com.au/no-targets-h...

Forget net zero. We need ‘real zero’ – and these companies prove it’s profitable Three huge global companies – IKEA, Lendlease and Fortescue Mining – are heading towards real zero. If they can do it, so can everyone.

Lendlease, Fortescue and IKEA are unlikely allies that have landed on similar strategies. Rather than dismissing real zero as too hard or expensive, these companies are proof that it is possible – it’s already happening, and it is good for business. www.smh.com.au/environment/...

Australia’s time has come to be a green energy intensive export superpower | Rod Sims What’s not to like about value adding more in Australia, with new jobs outside our cities and a continuing boost to productivity and prosperity?

Green iron should be made where the renewable resources are and where the hydrogen is made – in Australia. The change in transport costs flips the economics so that it is logical that more value adding occurs in Australia. www.theguardian.com/commentisfre...

Rio Tinto's history lesson Incoming CEO Simon Trott must learn from the epic mistakes of his predecessors.

“Across approximately 50 transactions, Rio Tinto has spent US$100 billion acquiring assets, then another US$30 billion trying to make those assets work, and those assets today have a market value of less than US$10 billion.” www.rampart.news/rio-tintos-h...

Australia’s biggest coal state to hold bigger tenders, sets new “stretch” targets for wind, solar and storage NSW is to fast track tenders, and offer more capacity, as it ramps up its wind, solar and storage targets to keep prices down as coal exits the grid.

NSW is to fast track tenders, and offer more capacity, as it ramps up its wind, solar and storage targets to keep prices down as coal exits the grid. reneweconomy.com.au/australias-b...

Australia's Fortescue secures yuan loan worth $2 billion for green energy plans Australia's Fortescue said on Friday it had secured a yuan-denominated loan worth 14.2 billion Chinese yuan ($1.98 billion) to ramp up its decarbonisation plans, weeks after scrapping its U.S. and Australian green hydrogen projects.

Australia's Fortescue (FMG.AX), said it had secured a yuan-denominated loan worth 14.2 billion Chinese yuan ($1.98 billion) to ramp up its decarbonisation plans, weeks after scrapping its U.S. and Australian green hydrogen projects. www.reuters.com/sustainabili...

Aussies back climate action, new poll A poll has revealed almost 8 in 10 Aussies want stronger climate action to prevent risks from bushfires and extreme weather events.

A new poll shows 77% of Australians want the government to take stronger climate action. A report released by the Productivity Commission this week found ignoring climate risks would cost the economy an extra $26bn in the next two decades. au.news.yahoo.com/aussies-back...

Over the last 4 quarters, ExxonMobil paid $17B in dividends and $21B on stock buybacks. Even so, its stock price has fallen ~8%.

$XOM has kept debt levels fairly stable but burned through $19B in cash reserves in just 5 quarters. $CVX's cash stockpiles are at their lowest level in decades, and the company is taking on debt to keep shareholder payouts flowing.

U.S. Majors Pump Profits While BP and Shell Stall | OilPrice.com While U.S. majors ride out price volatility with strong operations, European giants are rethinking their strategy.

Both BP and Shell reported lower profits compared to a year ago, but exceeded analyst expectations. However, they still have work to do to catch up with Exxon and Chevron in terms of operational success, if not market valuation. oilprice.com/Energy/Energ...

Renewables revolution triggers minerals hunt in 'sensitive' valley Daily life depends on critical minerals, so how can this northern NSW community seek an exemption from exploration and mining?

"We can survive floods, but floods contaminated with heavy metals and cyanide — I don't think there's any coming back from that." www.abc.net.au/news/2025-08...

Asset managers can’t have it both ways on sustainability - Top1000funds.com Asset managers have recently been trying to show that they could cater to all sides, from asset owners that have spent years integrating sustainability into their investment strategies to anti-ESG ele...

The sustainability opportunity — as identified by JP Morgan — lies with managers who adopt well-defined, organisation-wide (entity-level) commitments to stewardship, as opposed to a product-by-product approach that caters to different client segments. www.top1000funds.com/2025/08/asse...

Glencore Needs to Dig Deep to Stop Disappointing Investors The miner’s last profit was two years ago, hindering its negotiating power amid industry consolidation.

So far this year, Glencore has lost 20% of its value, significantly underperforming peers. And while there are other explanations — including a huge coal exposure amid slumping prices — its mining operations remain a key concern for analysts and investors. www.bloomberg.com/news/newslet...

Just imagine how many jobs it could cut if BP stopped scoping and progressing new projects.

BP to cut 6,200 jobs as it launches second business review in 6 months Oil major raises dividend after reporting adjusted profits of $2.4bn for second quarter

BP said on Tuesday that 6,200 out of its 40,000 office staff would be cut this year. It had cut $1.7bn so far, and sold $3bn of assets, and Auchincloss said he wanted the company to be “best in sector” on costs by 2027. www.ft.com/content/b1ea...

Steelmakers face crunch-time on coal: critical risks in blast furnace relining decisions - ACCR As the steel sector approaches a decisive decade for blast furnace investment, investors have a critical role to play in ensuring capital is aligned with credible transition pathways.

Within the next decade, global steelmakers - particularly across Europe and key Asian markets - face major capital expenditure (capex) decisions about the relining of coal-based blast furnaces. www.accr.org.au/research/ste...

When tracking corporate climate conduct, do we focus too much on emissions? - Climate Law Blog This blog is the first in a three-part series on sustainable finance metrics that better evaluate corporate climate risk, opportunity, and impact, and make metrics more relevant to financial decision-...

If a company’s capital assets largely “lock in” present-day emissions, its capital plan is a choice that foretells the company’s climate future. Understand a company’s plan for its capital assets, and you have a clear picture of its future emissions. blogs.law.columbia.edu/climatechang...

AEP, WA Chamber etc spinning that the Productivity Commission's recommendation of scaling up renewables, reducing gas reliance is counter to the Future Gas Strategy. Seems a bit desperate. www.theaustralian.com.au/nation/polit...

‘The forest had gone’: the storm that moved a mountain The long read: On a small ledge in the Swiss mountains, 200 people were enjoying a summer football tournament. As night fell, they had no idea what was coming

Long read, providing a window into climate change in Switzerland (June 2024). A year later, another village was obliterated by rocks collapsing a glacier, caused by melting permafrost. www.theguardian.com/world/2025/a...

Investor Bulletin: The climate governance gaps of Glencore and its peers - ACCR A new ACCR-commissioned report shines a light on the board-level climate and energy transition governance gaps of Glencore and its peers.

Glencore’s board has little demonstrable climate or energy transition expertise and appears ill-equipped to oversee climate strategy. If boards are applying yesterday’s skills to today’s challenges, the case for robust investor stewardship is strong. www.accr.org.au/insights/inv...

Super battery capable of powering one million homes switched on One of the most powerful energy storage batteries in the world has been designed to back up NSW's grid.

"Renewables firmed by storage technologies such as big batteries are the lowest-cost and most practical option to transition Australia's energy system, decarbonise our electricity grid and keep the lights on." www.abc.net.au/news/2025-08...

Gas is escaping near Santos wells offshore WA The company is monitoring the leaks that add to its problems at Varanus Island.

Gas is seeping from at least 13 locations on the seabed near Santos facilities around Varanus Island off the Pilbara coast, but the $25 billion company is not answering questions. www.boilingcold.com.au/gas-is-escap...

BP makes largest oil, gas discovery in 25 years off Brazil Britain's BP announced Monday it made its biggest oil and gas discovery in 25 years off the coast of Brazil, as it shifts back to its fossil fuel business.The discovery comes as a boost to the struggl...

"BP will want to use its latest numbers to convince the market it has truly revamped its strategy and moved away from the green push which proved unpopular with a significant portion of its shareholder base," said AJ Bell investment director Russ Mould. finance.yahoo.com/news/bp-make...

BP to report on cost cuts as activist investor Elliott steps up pressure Status update on plan to save $5bn comes as US hedge fund pushes energy major to go even further

Elliott wants Murray Auchincloss, BP chief executive, to add another $5bn of cost savings to the target he announced in February of $4bn-$5bn of reductions by 2027 from a 2023 baseline. www.ft.com/content/4f3b...

How Trump is gaslighting the climate — with Japan’s help As the U.S. president ramps up high-polluting LNG projects, Japan is among the nations he's pressuring for investments. The economic case for the push, however, is far from clear.

As the world gears up for an unprecedented increase in LNG export capacity, many believe that global supply will outstrip demand, which is falling in major markets such as Japan and Europe and may not grow as much in China and India. www.japantimes.co.jp/environment/...

Business condemns ACTU tax hit on high incomes, trusts, LNG and miners One leading economist warned the structure of the proposal to curtail property investor tax breaks could spark a property “fire sale”.

The ACTU will push for a 25% levy on all exported LNG revenue in place of the PRRT (which would raise up to $16 billion a year), as well as a $20 million annual cap on the diesel fuel rebate, a move that would largely affect major commodities companies. www.afr.com/politics/fed...

PM lays into Glencore for abandoning town that made it rich The world’s largest commodities trading house, Glencore, has been locked in negotiations with government over the future of the Mount Isa smelter.

Prime Minister Anthony Albanese has accused the owner of the Mount Isa copper smelter, Glencore, of threatening to abandon the town that helped make its shareholders rich www.afr.com/politics/fed...

Shell held off trading oil price spikes during Israel-Iran war, says CEO UK energy major reports 32% fall in quarterly profits on lower oil and gas prices

Shell posted a 32 per cent fall in adjusted earnings to $4.3bn, from $6.3bn in the same period last year after a 10 per cent fall in oil and LNG prices. www.ft.com/content/a150...

Investors take aim at fossil fuel bond financing New Cambridge-Bloomberg index will serve investors seeking to avoid expansion in oil, gas and coal production

Fossil fuel exclusion policies have been far too focused on the stock market — rather than on debt investment. The vast majority of fossil fuel finance comes from bonds and bank loans, with only a small fraction coming from share issuance. www.ft.com/content/29a5...