From GetUp ... On the front page today, The Age exposed Adani for what it is. A ruthless, greedy operator with an atrocious human rights and environmental record. On one side, gifts of silver and crystal are lavished upon Australian politicians. On the other, The Age reports that Adani pays a twelve year old boy $2.60 per day to work on a construction site for twelve hours, six days a week. Its reported employees are paid below minimum wage, have no legal protections and have no access to toilets, meaning breakouts of cholera are common.1 Adani built a coal port in India without proper environmental approvals, displacing local villagers and destroying conservation areas.2 Unbelievably, the Australian government is trusting this company to build the worlds biggest coal port on our Great Barrier Reef. Theres one hitch though. Adani cant start building until they borrow around $10 billion and right now, Australias Big Four banks are the frontrunners to give it to them. Thats right. Westpac, Commonwealth Bank, NAB, and ANZ are considered the banks most likely to finance Adanis Abbot Point and its mines. This means financing dredging, it means financing thousands of coal ships through the Reef, and it means trusting Adani to do it. But the Big 4 banks are financed by Australians -- with our deposits and our loans -- so they have to listen to us. Thats why GetUp members are asking the Big 4 not to fund Abbot Point or the mines that feed them, and were not going away until they do. Click here to get started. Right now Adani is desperately searching for the billions it needs, and its already floundering. GetUp members have exposed its documented history of environmental destruction and corruption, and made national headlines doing so. Now, major international investors like Deutsche Bank cant walk away fast enough. Westpac, Commonwealth Bank, NAB and ANZ all have long histories of investing in big coal projects, many of them have even funded other ports along the Reef coastline. But now, for the first time, even the economics are on our side. With India and China rapidly moving towards renewable energy and away from imported coal, these monstrous developments may not ever turn a profit. 3 Without support from the Australian Banks, theres a great chance Adanis disastrous project will never happen.
Posted on: Fri, 05 Sep 2014 10:02:28 +0000
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