With Abbott sending clear signals that he intends to fast-track approval for large scale coal mines (http://reneweconomy.com.au/2013/abbott-to-fast-track-coal-mines-in-competition-for-ideas-53731) if elected to power later in the year and with Rudd’s position on the Carbon Tax still unclear (http://www.businessspectator.com.au/news/2013/6/28/politics/rudd-eyeing-scrapping-carbon-tax) it’s vital that Australia’s coal export industry and domestic coal based Energy industry be put on the political centre stage in the lead up to this election.
Big Coal knows the writing‘s on the wall, and that they only have a limited time-frame in which to lock in investment in future coal production before it is no longer cost competitive.
The finance and investment sector are at a tipping point too. Forward thinking investors are beginning to realise investing in coal long-term does not make economic sense (let alone equate an act of environmental suicide).
Inspired by the recent Bill McKibben Do The Maths (http://math.350.org/) tour there’s a grassroots momentum growing across Australia calling for financial institutions to divest from coal in the name of economic risk management and in the cause of Environmental Responsibility - Greenup’s invites you to join this growing crowd calling for their Banks, Superannuation and Investment Funds to divest from coal.
At this month's GreenUps (http://www.greenups.net/) we will be discussing the Maths, the Politics and Divestment Strategies. We will also be engaging in some Digital Activism so bring your smart phones, tablets and other socially connected devices so you can help get your message out.
If you can’t make it along tonight I encourage you to show your support and do your bit to Divest.
Please sign this open letter (http://openletter.marketforces.org.au/) to the heads of the big four banks urging them to adopt critical change in their investment policies.
Send a message to your banks (http://action.marketforces.org.au/page/s/banks-on-notice) putting them on notice that they must end loans to new coal and gas mining, transport and export projects or you will withdraw your business.
For more info on this campaign
Market Forces (http://www.marketforces.org.au/index.html)
Go Fossil Free Australia (http://gofossilfree.org/australia/)
The Conversation – Do the Maths: Bill McKibben argues for divestment
Renew Economy - Will financial markets veto Australia’s mega coal mines? (http://reneweconomy.com.au/2013/will-financial-markets-veto-australias-mega-coal-mines-11927)