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Byron Shire
October 25, 2021

Lismore councillor explains opposition to Adani coal mine

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Lismore councillor Eddie Lloyd. Photo supplied
Lismore councillor Eddie Lloyd. Photo supplied

Lismore City councillor Eddie Lloyd is continuing the fight to stop the Commonwealth Bank from investing in the proposed Adani Carmichael Coal mine, near the Great Barrier Reef in Queensland.

This week she attempted to put forward a motion at the Lismore City Council meeting calling on the Commonwealth to follow the lead of other banks in refusing to invest in Adani.

With four councillors declaring an interest, there was no quorum for her motion to go ahead.

Below she sets out why she is opposed to the mine.

‘Lismore City Council is a recognised leader in renewable energy infrastructure and practices. We have a fossil fuel free investment policy and we are working on a strategy to divest from fossil fuel investing institutions,’ she said.

‘My motion to Council was also aimed at putting pressure on the Commonwealth Bank to cease investing in new coal and other fossil fuel projects and specifically asking them to rule out funding the proposed Adani Carmichael Coal mine, located at the World Heritage Listed Great Barrier Reef.

‘Despite publicly committing to action on climate change, the Commonwealth Bank loaned $3.886 billion to fossil fuel projects last year.

‘The Adani Coal Mine will become the 7th largest source of carbon pollution in the world to be located at one of the 7 natural wonders of the world.

‘But it’s not just ordinary coal they want to mine, it’s the world’s poorest quality coal – thermal coal. This coal is not wanted. The global demand for thermal coal is dropping steeply and renewable energy is now cheaper, by at least half.

‘We know that Climate change is the number one threat to the reef and yet, despite these facts, we have one of our largest banks refusing to rule out doing business with Adani.

‘This does not sit comfortably with Council’s commitment to a renewable fossil fuel free future for our community.

‘Already the ANZ, Westpac and NAB have said no to Adani. They are living up to their corporate social responsibilities. They know that coal mines are not sustainable. They see the risks associated with investing in a dying sector and a project that will cook the climate and wreck the reef.
They listened when all the economic analysts’ from Goldman Sachs to Oxford University told them that investing in these mega new coal projects makes no economic sense. Because investing in such unsustainable, unethical, reef-destroying projects will result in a reduction in the share price for their shareholders.
Currently there is a national campaign targeting the Commonwealth Bank to specifically rule out funding the Adani coal mine.

‘So far they have not done so. Is it because they believe the mine will be good for the economy? Did they gobble up Adani’s claim that the mine and related operations will generate 10,000 jobs. Did they not get the memo from Land Court of Queensland who rejected this gross over-estimation finding that the project would create in total around 2600 direct and indirect jobs?

‘Has the bank not heard the impact of the mine to the reef? To get this coal out Adani also plans to expand Abbot Point Port, dredging up 1.6 million cubic metres of sea floor so 500 extra coal ships a year can blast through the Great Barrier Reef Marine Park.

‘Corals exposed to dredge material are exposed to lower water quality which leads to coral bleaching. In recent months we have seen mass coral bleaching events threaten the destruction of the Great Barrier Reef. It is now common knowledge that half of the world’s reefs are now dead.

‘The Climate Council warns that if our Great Barrier Reef dies, Australia would lose more than $6 billion in tourist dollars and 70,000 jobs in the tourism and fisheries sectors.

‘The Adani group is facing a number of legal challenges from the regions first people, the Wangan and Jagalingou traditional owner group who firmly reject a land use Agreement with Adani.

They do not accept Adani’s offers to sign away their land and their rights. They will not take their shut-up money and they do not accept the recent amendments to the Native Title Act which has removed the very important consent rights provided to them following the Mabo decision.

The region’s first people are joined in opposition by corporations, businesses, leading climate scientists, the medical community, the tourism and fisheries sector, environmentalists, and the three big banks.

‘So why should Lismore City Council continue to support the Commonwealth Bank should they decide to fund this old coal monstrosity?

‘The right thing for Council to do is to let the Commonwealth Bank know that we are opposed to this coal mine and that we are not supporting their wishy washy stance on old coal.

‘We do not want OUR money doing THEIR dirty work.

You can email your Councillor’s and the bank to express your views.’


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10 COMMENTS

  1. Thank you for taking a stand in this, Lismore Council.
    My family and I all bank at the CBA. I will be rethinking that position if they continue to support fossil fuels. (I am shocked to learn that they do!)
    For me it is a conscience vote. It is my choice where I put my money, and I may be just one little family, but that is how we all feel. Small by ourselves, but powerful together.
    Send clear messages on what kind of world you want, live by example.
    I am also ashamed of the government changing the native title act! It is criminal behaviour!

  2. If you look online there are many choices of financial institutions that don’t support this rotten stinking mine, or any other. I used to bank with the Commonwealth but have not for some time because of them not showing the sort of social responsibility that I want my savings to contribute to.

    This mining fiasco is a crime against all Australians, including the first Australians, and we should be standing together as a community and making a stand about it. It matters.

    I’m not sure what the Northern Star meant when they said the Councillors have an interest so they couldn’t vote on the issue? What sort of interest? I don’t want to be voting for anyone who has shares in Adani.

  3. It’s great to see Greens Councillor Eddie Lloyd attempting to stop this big bad evil coal mine. I hate what it will do to the Reef, to Queenslanders and to us here in Lismore. Shame on the Commonwealth Bank for not saying they won’t fund it. Shame that all the other Councullors walked out. How dare they. They should stay and defend themselves. I voted for the Greens and I am proud of the work Eddie Lloyd does for us.

  4. Many appropriate words have already been expressed in regards to this mine and the issues surrounding the use of coal for fuelling our ever increasing appetites for more non-renewable energy. There seems to be no end in sight to the constant barrage of assaults on the environment. We humans are hell-bent on destroying that which gives us life….earth. Adani has shareholders as does CBA. This coal mining project supports their desire for increased shareholder dividends and gives the reigning political party an edge by allowing political campaign promises for more jobs and more money to be realised. Unless we are all willing to have less and therefore reduce our impact on the earth then we may well reach a point of no return. Let us vote with our feet about who we invest with and what we invest in.

  5. If i lived in her electorate I would help on polling days and visit voters homes put up signs etc for her this lady uses her head and the brains it contains not like the federal Liberal National Governments

  6. Adani is being fought on several fronts, especially by the ACF Community. As well, why not let the CBA know that you plan on closing your account with them.

  7. Thank you Eddie Lloyd for making a stand against Commonwealth Bank investment in fossil fuels and Adani Mining corporatiion.
    I agree with Carol White that “this mining fiasco, is a crime against all Australians”. Unconventional mining is causing dangerous levels of environmental damage around the earth – globe.
    Many thousands of people will back you up on your stand. Csg mining is a pox on the planet and the big greedy mining corporations are controlling our government with a little help from red china. this is not acceptable to Australians.
    We also need to back the QLD people in their fight against propaganda anouncing to them that Adani is good for economics – jobs. The Land will be worth nothing after Adani takes state money to build a railway and destroys queensland soil air and “all the water adani can use”and also destroys The Great Barrier Reef (a home to countless life forms) a wonderful tourist attraction for the country.
    Ban all unconventional mining please. Let us fight the good fight to save our country, from greed and corruption.

  8. While the Local Government Act does allow Councils to provide services appropriate to the current and future need within its local community and of the wider public, all of the explicit functions outlined relate to their own LGA. I would have thought the legislators intended by “…need … of the wider public” to mean providing decent roads, dunnies and parks etc within the LGA for the use of both the local community and visitors from the wider public. I would not expect that they had in mind hectoring businesses concerning a matter that relates to the environmental and economic development functions of the Commonwealth and of another State. I note this as a regular visitor to Lismore City which I find, while it does appear to do a better job then the Byron Shire, it is not always meeting reasonable expectations of residents and visitors in providing public transport and decent roads. There is only the most minimal provision for decent bus services and in an area where you should be able to get around in a Corolla, people feel the need to commute from their rural mansions on third world roads in giant Land Cruisers and their ilk, with the consequential high emissions and carbon footprint. Eddie Lloyd and her fellow councilors need less global grandstanding and more local action on matters that lie within their mandate.

  9. Thank you Eddie Lloyd. LOCAL Action on Climate Change means ethical choices regarding Environmental Sustainablility. Australian instituitions are failing in their fiduciary responsibility to safeguard the people and their future well-being. We are all world citizens and we should not shirk our responsibility. The basis of democracy is citizens caring for each other and the personal responsibility of acting on that ethic…

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