Lending to coal ports
Australia’s largest contribution to global warming come from our role as the world’s biggest coal exporter. We also have the dubious honour of hosting the world’s largest coal port at Newcastle, while other major coal export terminals – including Abbot Point, Gladstone, Hay Point, and Port Kembla – dot our eastern coastline.
A number of these projects are included in our list of ten dodgy deals that are hurting the big banks – check it out here.
Due to the hundreds of millions of tonnes of dirty coal we ship off to be burned overseas each year, Australia is highly culpable for the growing climate emergency, and so too are the banks that finance these projects.
Top lenders to coal ports in Australia 2008-2016
Is your bank on the list?
Tell them if they continue to choose fossil fuels, you’ll choose a new bank.