Mining companies in bed with banks

What do climate change, banks and mining companies have in common? It appears that for some businesses increasing drought, fire and flood events help their bottom line.

Out west where the effects of climate change cannot be mitigated by air conditioners or sprinklers farmers are having difficulty with devaluation of their land; this induces their friendly ‘local’ bank to foreclose, which in turn allows giant mining companies to move in at reduced prices and with no pesky protests.

An elderly farmer from Winton in Queensland was told by his ANZ bank ($7 billion profit last year) that the drought had devalued his land and therefore he was considered an unviable risk; yet he had never missed a mortgage payment.

This is happening all over Queensland and NSW yet from Labor and the Liberals we hear but a few weak disclaimers while the Nationals stand in a conga line waiting to slip into some cushy position, on the Board of AGL or Santos etc.

This is corporate terrorism, Australian people are being bullied, threatened and abused by both banks and mining companies and all we hear from the media and politicians is the threat of terrorists, the sale of assets and a few dollars for hospitals (a given in any case).

We need to think outside the box, consider climate change in every aspect of, not just our lives but everyone’s lives; we need to take responsibility by divesting from big banks and superannuation funds which support the fossil fuel industry and we need to start investing in renewable energy measures, shop and eat local, care about our community and vote for those who want action for our future.

Trish Mann, Burringbar

Leave a Reply

Your email address will not be published. Required fields are marked *


Echonetdaily is made possible by the support of all of our advertisers and is brought to you by our sponsor Vast Interior Ballina. Sponsors-537-Vast-300x100