Australia’s big banks promote coal, not renewables
“While they spend a huge amount of time and money creating an image of sustainability and environmental concern, they are quietly using billions of dollars of Australians’ money to pollute our future,”
Greenpeace slams banks for greenwashing, Brisbane Times, October 11, 2010 – Australia’s big four banks financed more than $5 billion worth of coal projects in the past five years while promoting their green credentials, a report commissioned by Greenpeace has found.
The environmental lobby says the ANZ, National Australia, Commonwealth and Westpac banks loaned more than six times the amount of money to coal mining, power stations and exporting than to renewable energy projects……”While they spend a huge amount of time and money creating an image of sustainability and environmental concern, they are quietly using billions of dollars of Australians’ money to pollute our future,” Greenpeace’s John Hepburn said……
Mr Hepburn said there were 12 new coal power stations in the pipeline for Australia, that if built, would increase the nation’s emissions by seven per cent.
“Whether or not they are built depends largely on the big four banks,” he said.
“They need to put their money where their mouth is and not lock future generations into this dirty form of power.”
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