One of the most important battlegrounds for our planet’s future is taking place right now inside banks, super funds boardrooms of our financial institutions. That why the work being done by Market Forces is so important and deserves a lot more attention.

Founded in Australia in 2013, Market Forces is an independent, non-profit environmental advocacy organisation focused on a simple but important strategy: following the money. By exposing the financial ties between major institutions and the fossil fuel industry, they are shifting billions away from climate destruction.

Historically, climate activism has mostly targeted Fossil Fuel companies directly. Market Forces looks at the problem differently and focuses to the enablers of the climate crisis – the banks, superannuation funds, and government bodies that look after our money.

“Is my hard-earned money being used to fund global warming?“

Their work is grounded in the reality that new coal, oil, and gas projects cannot exist without capital. By using independent, data-driven research, they empower everyday citizens to ask a critical question: Is my hard-earned money being used to fund global warming? Through consumer comparison tools, investor briefings, and shareholder action, they bridge the gap between complex financial systems and grassroots environmental action.

The good news is they have been succeeding, with a number of notable wins.

Market Forces has been incredibly successful at holding corporate giants accountable. They regularly analyze the lending habits of Australia’s “Big Four” banks: ANZ, Commonwealth Bank (CBA), NAB, and Westpac. Their persistent campaigning and public benchmarking have driven massive shifts in the corporate landscape:

• Restricting Project Finance: Due to intense community and shareholder pressure driven by Market Forces, the financial year 2023 marked the first time since the Paris Agreement that none of Australia’s Big Four banks directly participated in a project finance deal for a brand-new or expanded fossil fuel project.
• Diverting Superannuation: Their research campaigns, like the Fossil Fuel Expansion Index and the Climate Wreckers Index, have forced Australia’s $4+ trillion superannuation sector to face intense public scrutiny over their portfolio choices, driving major funds to implement stricter net-zero requirements.
• Corporate Boardroom Accountability: By coordinating shareholder resolutions at major annual general meetings (AGMs), they have forced executive teams at companies like Macquarie Group, Woodside, and Santos to defend their environmental records directly to investors.

Climate Biz Matters

Advocacy requires continuous education, which is why it is great to see Market Forces expanding their reach with their brand-new podcast, Climate Biz Matters.

Hosted by Paula Martinez and Antony Balmain, the podcast pulls back the curtain on the business opportunities, economic decisions, and corporate policy shifts shaping our climate and local communities. By bringing together a diverse array of perspectives from leading financial experts to grassroots community members, Climate Biz Matters aims to breas down complex economic structures into digestible, actionable insights.

Whether you want to understand how your local bank impacts the global energy transition or find out how you can use your financial footprint to create change, Climate Biz Matters promises to be essential listening.