Frontline Action Against Coal

Since the 2010 declaration of the Anna Bligh state Labor government that Adani’s proposed Carmichael coalmine and rail project in Central Queensland was being assessed as a “significant project”, opponents have raised the shady dealings of the company on its home turf, India.

The continued support for the project by Labor and Coalition forces in Queensland and Canberra, in the face of the growing likelihood of the project achieving “stranded asset” status as sources of financing dry up, raises the question: “What is in it for the pollies?”

As 2017 drew to a close the climate movement had much to celebrate. Hard fought campaigns directed at potential financial backers had resulted in Adani’s Carmichael coalmine being a far less certain prospect as one by one financial options dissolved.

With major financial institutions in Australia and overseas ruling out support for the project, Adani had pinned its hopes on China as a possible funding source as well as a market for Galilee Basin coal. In spite of the Australian government oiling the wheels for a deal, all major Chinese banks backed away in the end.

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