State Bank of India must not fund Adani

Sydney protest calls on the State Bank of India not to help Adani. Photo: Rigmor Berg

“SBI, don’t you know? Adani’s mine has got to go!” was a favourite chant at a protest in front of the office of the State Bank of India (SBI) at Australia Square on November 20.

After Stop Adani discovered that SBI is on the verge of finalising a $1 billion public loan to Adani’s climate-wrecking coal project, protests were called in Sydney, Canberra and Melbourne, as well as overseas.

About 200 people gathered in Sydney to call on SBI to reverse reported moves to fund the controversial Adani mega-coal mine in central Queensland.

Speakers stressed that air pollution in India is already at dangerous levels, and the burning of imported Australian coal would be disastrous for Indians' health as well as for the climate.

High school student Bailey told the rally that youth will bear the greatest burden of runaway climate change.

Adani tried and failed to make Australian taxpayers foot the bill for their debt-ridden Carmichael coal project. Now they’re trying to expose Indian taxpayers to financial risks that no private investor will accept, a Stop Adani leaflet noted.

“While India continues to suffer through a health crisis that has already taken the lives of thousands of people, Gautam Adani’s wealth has grown to $23.5 billion.”

Rally chair Isaac Astill attempted to deliver a protest letter to the SBI office, but was refused entry.

He said a similar solidarity action in New York had led to an agreement to arrange a meeting between Stop Adani protesters and SBI officials.

[For more information on the Stop Adani campaign visit]