Australia: Standard Chartered quits coalmining project in the Great Coral Reef
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Author: Sebastian Bock, Greenpeace (UK)
…Immediately after the big announcements in Australia, Greenpeace supporters all over the world emailed Standard Chartered’s CEO to tell him to clean up the bank’s act and get out of the Reef as well. The next day Greenpeace activists rebranded Standard Chartered’s ATMs all over Hong Kong, sending a clear message that people around the globe were watching.
…We sent a detailed briefing to many of the bank’s biggest investors explaining to them why they should ask Standard Chartered to cut its ties to this mega coal mining project that could destroy the Reef. And then on Monday it all paid off: Standard Chartered announced that they would no longer help to get this monster mine off the ground.
…Not only would the rail and port infrastructure that is needed for mine directly threaten the Great Barrier Reef. The emissions from the coal that was meant to be dug up are absolutely staggering…With Standard Chartered walking away from the project, the company trying to build the mine now has no bank left helping them to actually come up with the money to pay for the construction…