Australians target eco-unfriendly banks Ethical banking surges after big banks lent out $16bn for coal, oil and gas projects in Australia since 2008. Earlier this month, however, when Australias largest bank held its annual general meeting, customers and stakeholders turned out to call for a pulling of funding for major fossil fuel projects. Commonwealth Bank of Australia (CBA) shareholders were particularly concerned about the threat posed to the World Heritage-listed Great Barrier Reef by a controversial coal port expansion at Abbot Point in Queensland state. Pointed questions from Australian Youth Climate Coalition Director Lucy Manne rattled CBA Chairman David Turner, who is also a director of the Great Barrier Reef Foundation. Turner refused to rule out his banks financing of the controversial Abbot Point expansion. Customers are losing faith in the banks and one of the key issues is Abbot Point, because it seems crazy that international banks will say they wont fund it, but the Australian banks are not willing to make that commitment. - Lucy Manne, Australian Youth Climate Coalition Outside, a number of protesters held placards emblazoned with personal stories of divestment. I left CommBank because I dont want my money funding a bleak future, read one sign. Another said, I want big banks to change their ways. aljazeera/indepth/features/2014/11/australians-target-eco-unfriendly-banks-20141124125030407856.html
Posted on: Tue, 25 Nov 2014 01:14:47 +0000
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