Australia: Greens Applaud One More Bank Refusal
- Business & Finance
The Australian Greens congratulated the Royal Bank of Scotland on their recent decision not to finance the Abbot Point coal port expansion, coming just before the World Heritage Committee is due to decide the fate of the Great Barrier Reef.
“The Royal Bank of Scotland joins Deutsche Bank and HSBC in announcing that they will not finance the Abbot Point coal port expansion to make it the world’s biggest coal port in our precious Great Barrier Reef,” Senator Larissa Waters, Australian Greens environment spokesperson said.
“BHP, Rio Tinto, Anglo American and Lend Lease have pulled out of Abbot Point coal port, as the coal price has dropped with the world embracing renewables instead. These big names don’t want to be associated with this Reef-destroying project that both the Newman and Abbott governments are allowing to go ahead,” added Senator Larissa.
The World Heritage Committee has expressed concern about the Abbot Point coal port and is expected to decide overnight whether to give the Australian Government until next February to save the Reef’s World Heritage status from being downgraded to ‘In Danger’.
Press Release, June 18, 2014