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Greenpeace targets big four over Carmichael coal

Greenpeace will target Australia's big four banks, particularly Westpac, in a campaign to prevent Indian energy giant Adani from raising the funds to build the Carmichael coal mine, approved by Environment Minister Greg Hunt this week and set to be Australia's largest coal mine.

Greenpeace said Adani still needed to raise "billions" to finance the $16 billion project in Queensland's Galilee Basin as well as the supporting port infrastructure, with Australia's big four banks likely sources of funds.

"One thing is clear; Adani needs an Aussie bank to make Carmichael happen ... all of the big four banks are a possibility, but the likely first stop will be Westpac – its most recent Australian funder," Greenpeace Asia-Pacific program director Ben Pearson said.

"We need to let Westpac know that we won’t stand by while they fund climate and (Great Barrier Reef ) destruction. So we’ve prepared a powerful ad to place on billboards right in front of their busiest branches."

Greenpeace said the campaign was an extension of its Abbot Point coal port efforts – make in conjunction with Market Forces, GetUp! and the Australian Youth Climate Coalition – which have seen Deutsche Bank and HSBC rule out financing there.

Source: The Australian