Renews calls for clear vision for a fossil free future
“We are thrilled that CommBank chose to stand with the community by rejecting involvement with Adani’s climate and reef-wrecking coal proposals. This move is a major step in the right direction, but now is the time to roll out a clear path to a comprehensive fossil free future,” said Bruce Lumb of Coffs Coast Climate Action Group.
Adani’s increasingly unlikely coal proposal would send millions of tonnes of coal through the precious Great Barrier Reef every year, making the planned Abbot Point expansion the third most unpopular fossil fuel project on the planet.
“CommBank’s withdrawal from the Adani coal proposal is yet another sign to the other big three Australian banks that this project is unbankable and unburnable. It’s time for NAB, Westpac and ANZ to back away from the project and outline their vision for a fossil free future.”
“Like we’ve shown CommBank, people everywhere will take action until Australia’s big banks get out of fossil fuels.”
CommBank is the 12th Bank to rule out involvement in Adani’s ill-fated Galilee coal projects, joining many of the world’s largest banks, including CitiBank, HSBC and Morgan Stanley. The announcement followed a concerted community campaign that saw thousands of people put the bank on notice and close their accounts and hundreds of actions at CommBank branches across Australia and around the world.
Community members interested in joining Coffs Coast Climate Action Group for Thursday’s friendly action should meet at the Growers Markets at 11am.