31 October 2019
Construction company Wagners made it clear at its annual general meeting (AGM) in Queensland yesterday that it is not concerned by the reputational and financial risks of working on the controversial Adani Carmichael coal project.
The company, which has seen significant drops in its share price over the last 12 months, was peppered with questions from shareholders over its continued commitment to a massive new coal project in the midst of a global climate emergency.
According to the Australian Financial Review, Wagners is in talks with Adani on a number of proposals.
Shareholder concerns raised at the AGM related to Wagners’ work on the Carmichael project included:
- other customers of Wagners avoiding the company
- institutional shareholders avoiding the company
- Wagners not getting paid by Adani for its work, as has been the case with engineering firm AECOM.
Despite 61 major companies having ruled out working on the climate-wrecking Carmichael project, Wagners is sticking by the tax-avoiding Adani, saying it was not concerned by the risks of being associated with it. In response to another shareholder, the company confirmed that it has never turned down a job or client due to ethical concerns.
Take action: contact the companies currently working with Adani and ask them to walk away from the disastrous coal project.