08/03/2011 - 10:21

CCWA begins anti-ANZ campaign over coal

08/03/2011 - 10:21

Bookmark

Save articles for future reference.

The Conservation Council of Western Australia has launched a campaign against the ANZ Bank, saying its ongoing investment in coal mining and coal-fired power stations is an investment liability.

CCWA begins anti-ANZ campaign over coal

The Conservation Council of Western Australia has launched a campaign against the ANZ Bank, saying its ongoing investment in coal mining and coal-fired power stations is an investment liability.

CCWA director Piers Verstegen said that ANZ had played a leading role in financing the last coal-fired power station to be built in Australia - the Bluewaters 2 station near Collie.

"The demise of Western Australian company Griffin Energy, owners of Australia's most recently built coal fire power station Bluewaters 2, proves a poor investment track record by ANZ," Mr Verstegen said.

"Funding is currently being sought for the development of the Bluewaters 2&3 coal fire power stations.

"ANZ must declare it will not finance what is currently appearing to be a stranded asset and protect the interests of its investors and the climate.

"With a carbon price set for 2012, ANZ and the banking sector must consider the risks associated with investing in coal, and cease to finance such polluting and costly enterprises."

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options