Adani opponents walk out on Westpac after bank refuses to rule out funding massive coal mine
24 March 2017
The chief executive of climate campaign organisation 350.org, Blair Palese, led a group of environmentalists out of a meeting with Westpac after only 15 minutes when Westpac refused to rule out funding the Adani coal mine.
The move comes a day after former Greens leader Bob Brown said the Adani campaign would be as big and defining as that battle for the Franklin River in Tasmania, which gave birth to the Greens.
350.org said in a statement:
CEOs from a number of leading environmental organisations walked out on a meeting with Westpac after only 15 minutes yesterday, after the bank refused to provide any indication it would rule out funding for the Adani coal mine or shift investment away from polluting coal, oil and gas.
CEOs and representatives from Greenpeace, Australian Youth Climate Coalition, Market Forces, Australian Conservation Foundation and 350.org were all in the meeting and decided to leave together when bank officials refused to answer questions about Westpac’s position on the proposed Adani coal mine in Queensland.
“It is quite frankly offensive for the bank to tell us they are engaging in practises compatible with avoiding dangerous warming and still refuse to rule out funding for the Adani coal mine, which would be devastating for the global climate and our reef,” 350.org CEO Blair Palese said.
“We were not going to sit in a meeting with the bank and hear about how they’re not damaging the planet while they refusing to rule out involvement with the largest coal mine in Australia’s history nor to say where they stood on phase out investment in new thermal coal.
“This is at the same time that our Great Barrier Reef is dying due to ocean warming, and severe weather events, heatwaves and bushfires are ravaging the country. The time for corporate inaction on climate change is well and truly over.
“We’ll return to the table when Westpac has something to add to the climate change conversation. And that starts with ruling out involvement with the Adani coal mine.”
This move comes a day after a historic alliance of environmental organisations was launched to stop the Adani coal project from going ahead, and after previous meetings with Westpac between the bank and environmental groups.