Adani’s Carmichael coal mine is environmentally reckless and contrary to today’s energy markets
~ Julien Vincent executive director of Market Forces 6 April 2017:
“If at first you don’t stack up economically, make the public pay for it.”
“This could be the mantra that delivers Adani’s Carmichael mega coal mine in the Galilee Basin
at the expense of the environment, culture, our prospects of a stable climate and in defiance of sound economics. …
“Since buying the coal tenements from Linc Energy in 2010, Adani has failed to secure a single private backer for the Carmichael mine.
“In fact, since then, 17 banks have either publicly distanced themselves from Galilee Basin
coal export projects or introduced policies that prevent them lending to the Carmichael mine. …
“In an industry where sentiment and market signals have a huge impact, leadership from private banks like Westpac can do more than just prevent a project like Adani’s Carmichael coal mine, and its impacts on people, the environment and climate. It can help prevent Australians for having to pay for the privilege.”
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