Friday, 28 April 2017

Westpac Bank rules out funding Adani - Hooray!

Westpac rules out backing Adani coal mine - SBS
Thanks to a lot of action from the Australian Youth Climate Coalition (AYCC), Westpac has now ruled out funding the massive carbon bomb coal mine planned for Queensland. They are the last big Australian bank to do so.

Adani is now high and dry for funding, but there remains the Lieberal Federal gov willing to step in with $1 billion of taxpayers money to prop it up. The pressure will now be put on the gov fair and square not to do this. One wonders how the gov could allow the Australian car industry to die, yet prop up Adani's dirty coal mine?


From the AYCC email:

Together, we just dealt a massive blow to the Adani coal mine. Westpac has ruled out investing in new thermal coal basins, which means no funding for Adani’s coal mine. Together with our collective power, grassroots strength and refusal to take ‘no’ for an answer, we finally won!!

 This means that, because of you, every big Australian bank has now distanced themselves from investing in the biggest coal mine in the Southern Hemisphere. We are so much more powerful than we are led to believe.

 Right now though, the Adani coal mine has one remaining lifeline - Prime Minister Turnbull wants to set aside $1 billion of your money to fund this coal mine. Over the next fortnight, our Government needs to hear from thousands of people about why they should rule out funding this coal mine.

 With the Federal Budget in two weeks, and a decision expected soon, now is our opportunity to send the Australian Government a message they can’t ignore: young people don’t want them to use our money to fund this coal mine. There will be actions at MP offices, a big creative stunt in Canberra and we’ll flood social media with our message.
You can contribute to the cause here.