The Australian Marine Conservation Society (AMCS) has welcomed the Commonwealth Bank’s decision to end their position as financial adviser to the Adani Carmichael coal mine project, which will require the expansion of the mega-port Abbot Point.
Cherry Muddle, Great Barrier Reef campaigner for AMCS, said that the decision highlights that the project represents a bad investment as well as a threat to the environment.
“We welcome news that the CommBank has listened to the concerns of tens of thousands of Australians to reject this risky and dangerous project.
“We now call on the Federal government to rule out the use of taxpayer funding and to reject the approval for this project.
“CommBank joins 11 other international banks and construction firms that have deemed this project to be too risky to invest in,” concluded Muddle.