Banks can profit from Great Barrier Reef instead of contributing to pollution

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Banks can profit from Great Barrier Reef instead of contributing to pollution 

 

A study conducted by Friends of the Earth-affiliate Market Forces with global environmental group 350.org calculated Westpac, the Commonwealth Bank, ANZ and NAB have lent A$3.8 billion since 2008 for energy projects in the Great Barrier Reef World Heritage Area.

 

The future of the Great Barrier Reef is at risk with the help of Australia’s Big Four banks who support the coal and gas extraction industries, which are doing serious damage to one of Mother Natures living works of art.

 

There is no doubt that the mining industry is propping up our economy, but is it worth it in the long term? Is the permanent injection of pollution into the underground water tables in land, and the pollution and destruction to the reef worth it?   I don't think so...  

 

Friends of the Earth-affiliate Market Forces with global environmental group 350.org have called for people to “put their banks on notice” that if they “continue to fund dirty coal and gas” they will “risk losing you as a customer”. 

 

We cannot expect Australian banks to stop funding mining altogether but surely the banks could take responsibility by investing some of that coal and gas money towards reef-friendly businesses?

 

Our core business is property and the mining industry has helped our market sector survive but there is also plenty of room for businesses to thrive and survive by supporting clean industry that protects and encourages our environments health, and not destroy it...