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Minister for Resources Calls Westpac 'unAustralian' and 'Pythonesque' in its Climate Change Policy

posted by martyb on Friday April 28 2017, @07:33PM   Printer-friendly
from the Pythonesque...-Slithery-serpent?-Scripting?-Dead-parrot? dept.

n1 writes:

The controversial Adani coal mine in Queensland is unlikely to get funding from Australia's big four banks after the second biggest, Westpac, tightened its funding criteria.

Westpac released its third Climate Change Action Plan today, which has a $10 billion target for lending to climate change solutions by 2020 and $25 billion by 2030.

[...] The bank's tougher criteria rule out Adani's new $16 billion Carmichael coal mine in Queensland's Galilee Basin to supply the Indian market.

[...] But Westpac's new environmental policy has infuriated Queensland LNP senator and resources minister Matt Canavan, who accused the company of being "unAustralian" before turning to Twitter to say Westpac had "turned its back" on the state.

Canavan said Westpac's decision was ridiculous, nonsensical and "Pythonesque"

"Adani itself hasn't asked Westpac for a loan. It seems to me that some corporations today are whimps in regard to standing up to these activists. You know, a few people that angrily turned up to a Westpac dinner and apparently changed the world," he said.

"I'm confident that the development in the Galilee Basin makes sense in terms of the world's energy needs."

Source: Business Insider Australia

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  • (Score: 5, Interesting) by MostCynical on Saturday April 29 2017, @12:17AM (2 children)

    by MostCynical (2589) on Saturday April 29 2017, @12:17AM (#501359) Journal

    Australia has along tradition (well, since white man arrived, anyway), of digging it up and flogging it off.
    Our richest people are mostly mining magnates or their children.
    Our (cheap!) coal and steel and gas has been keeping Chinese industry going for years.
    Because the country is so big, and no one lives near many of the mines, the environmental and human-health impacts of these mines are mostly hidden (a few people get sick, and their crops die, and truely massive holes are left in the landscape, but Progress! Trade!)
    So, it *is* un-Australian to consider the environment, think of the future, or think beyond the next election.

    --
    "I guess once you start doubting, there's no end to it." -Batou, Ghost in the Shell: Stand Alone Complex
    Starting Score:    1  point
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  • (Score: 0) by Anonymous Coward on Saturday April 29 2017, @11:28AM (1 child)

    by Anonymous Coward on Saturday April 29 2017, @11:28AM (#501516)

    I really don't think China need to be buying anyone's steel...
    Considering they make as much as the rest of the world put together.
    http://www.afr.com/leadership/brw-lists/brw-rich-200-list-2016-20160526-gp4ejn [afr.com]