NAB and Westpac: Stop funding Whitehaven Coal!

NAB & Westpac- Stop Funding Whitehaven's Dirty Coal

15 September 2021 The federal Environment Minister has just signed-off approval for Whitehaven’s climate-wrecking Vickery coal mine. But Whitehaven still needs to find enough money to match the mine’s $600 million price-tag. Despite stating their support for the Paris Agreement, NAB and Westpac loaned a combined $220 million to Whitehaven … Read More

ASIC investigation requested into New Hope statements

New Acland coal mine - Credit - Lock the Gate Alliance

21 July 2021 Australian coal company New Hope has a track-record of dodging questions about the material financial risks to its business from climate change. That’s why this week EDO Australia, on behalf of Market Forces, wrote to the Australian Securities and Investments Commission (ASIC) requesting an investigation into potentially … Read More

Adani’s coal port failing to refinance debt, again

7th May 2021 Ratings agency reporting has revealed that Adani’s Abbot Point coal port (recently rebranded to North Queensland Export Terminal – NQXT) has so far failed to secure external financing to repay a US$140 million debt due in September this year. Instead, the debt-ridden port, located in the Great … Read More

Deutsche Bank refuses Adani Ports financing

29 January 2021 Media reports indicate that the world’s 7th largest (in 2020) bookrunner for bonds, Deutsche Bank, has been blocked by its Sustainability Committee from participating in Adani Ports’ latest bond issue. “Port-related environmental concerns which are in conflict with sustainability goals of the bank” was reported (paywalled) as … Read More