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Big four unlikely to sink money into Adani’s white elephant

Media Release
Larissa Waters 11 Dec 2015

The Australian Greens are calling on Westpac to rule out funding Adani's Carmichael mine in order to meet its commitment to keep global warming within 2 degrees, announced today.

"There's no way you can finance the Southern Hemisphere's largest coal mine and say you're taking action on global warming," Senator Larissa Waters, Australian Greens climate change spokesperson, said.

"It's looking very unlikely that any of the big four Australian banks will finance the Carmichael mine.

"NAB has ruled it out, Commbank has ended its relationship with Adani, while ANZ and Westpac support keeping global warming within 2 degrees.

"On top of this, 11 international banks have ruled out financing this pollution bomb, which would turn our Great Barrier Reef into a shipping super highway.

"It's reckless for the Federal Liberal Government and State Labor Government to be pushing ahead with this white elephant that financers won't touch with a barge pole," Senator Waters said.

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