The Export Finance and Insurance Corporation (EFIC), an Australian government institution, is being used to financially support Adani’s plans to open up the Galilee Basin to coal mining. It has been revealed that EFIC plans to use public money to prop up at least one company that would supply Adani’s Carmichael … Read More
AECOM: “Like a dentist handing out candy”
It’s getting lonely for Adani in their destructive quest to build the Carmichael coal mine and railway line. Twenty-eight major banks across four continents have now stated they will not lend money to the project. Adani’s construction partner Downer EDI has walked away. Most recently, Aurizon, Australia’s most experienced coal … Read More
Media release: Fourth major Chinese bank walks away from Adani mega mine
Wednesday 13 December, 2017: China Merchants Bank today provided a statement to environmental finance campaigning group Market Forces, confirming it will have no part in the proposed Adani Carmichael coal mine. The bank replied to a letter outlining an array of concerns with the proposed project and the corporate record … Read More
Westpac rules out Abbot Point terminal
8 December 2017 Westpac today all but confirmed it would not refinance the Abbot Point coal terminal, striking another blow to the crippled Adani coal mine. Climate related questions dominated the opening of question time at the bank’s annual general meeting in Sydney, revealing a lack of awareness around its … Read More
Embassy confirms: no Chinese money for Adani
6 December 2017 In a massive blow for both the Adani company and the Australian Government, the Chinese embassy has confirmed that no Chinese money will be invested in Adani’s Carmichael coal project. China’s rejection of Adani comes despite Deputy Primer Minister Barnaby Joyce and Trade Minister Steve Ciobo making … Read More
Chinese banks rule out Carmichael coal mine!
Most Australians won’t know about the Industrial and Commercial Bank of China, Bank of China or China Construction Bank. They are massive – among the biggest commercial banks in the world by assets. All three banks are also current lenders to China Machinery Engineering Corporation, the company Adani has been … Read More
China Construction Bank rules out Adani coal!
Your email will also go to CMEC and its other bankers that getting involved in Adani’s coal mine would mean supporting one of the most environmentally damaging projects they could find, risking their own reputation.
Keep Chinese investment out of Adani Carmichael
We’ve found out how Adani plans to finance their mega coal mine. And we have two months to stop it. Adani has been talking to China Machinery Engineering Corporation (CMEC), a Chinese state owned enterprise capable of supporting the construction of the mine, but also with the financial capacity to … Read More
Downer refuses to shed any light on Chinese involvement in Adani mine
2 November 2017 The board of Downer EDI today came under intense pressure from shareholders at its Annual General Meeting (AGM) over the company’s relationship with Adani and the planned Carmichael coal mine. In an unprecedented move that suggested the board wanted the meeting over and done with as quickly … Read More
Boral: “Climate not a significant risk”
2 November 2017 Last financial year, Boral Ltd spent around $300 million on energy and emitted 2.5 million tonnes of CO2 equivalent. So far this financial year the company has suffered losses of up to $10m due to the impacts of hurricanes in the US, which were exacerbated by climate … Read More