‘Building the biggest coal mine on earth is, at this point in human history, the dumbest idea on earth,’ said Bill McKibben, co-founder of 350.org.
Adani Carmichael Coal mine is still looking for major investors to get off the ground and Westpac Bank is a possible investor. Lismore Environment Centre is rallying the community together this morning at 10am outside the Westpac Bank, Molesworth Street, Lismore to highlight opposition to funding of the mine.
‘Twelve investment banks including Citigroup, Goldman Sachs and HSBC have ruled out investing in Adani. The other three major banks in Australia have been backing away from it, but not Westpac. Westpac’s approval could throw open the doors for investors sitting on the sidelines. We want to show Westpac this is not a good decision for them to make,’ said George Pick from the Lismore Environment Centre.
‘This project is one of the single biggest threats in the entire world to our climate. The Queensland and federal governments are pulling out all the stops to facilitate the Adani Carmichael coal mine in the Galilee Basin even though it’s economically unviable. Westpac needs to realise that investing in this mine will hurt their brand. Our community cares about climate change and investing in Adani will be a big mistake.’ he said.
Taking 12 billion litres of water a year the project will dewater two local springs that are Great Artesian Basin recharge springs, and will mine through the Carmichael river.
‘In Queensland, new water laws passed last year which mean that whilst Adani has to apply for a water licence local communities have no right to object to any licences that are granted,’ said Lismore City councillor Elly Bird, who will be speaking at the event.