“To change everything, we need everyone.” That is the slogan of the People’s Climate March being held globally on the weekend of November 27-29.
The rallies will coincide with the upcoming UN climate talks in Paris and will demand a transition to a safe climate that ensures jobs and social justice. But the rallies are not just about appealing to politicians to make a strong agreement in Paris — there is very little chance of that happening.
Stop Adani
Visiting Canadian author and activist Naomi Klein believes she owes PM Tony Abbott “a debt of thanks”.
In Sydney to promote her new book Capitalism versus the Climate: This Changes Everything , Klein said the conflict between what the planet needs and what capitalism needs is exemplified in Australia.
National Australia Bank (NAB) has decided not to fund the Adani coalmine, rail and port facilities on the Great Barrier Reef coastline.
The Korean company LG has also announced it will not buy the company's coal.
Korean electronics giant LG signed a letter of intent with Adani last year to purchase 4 million tonnes of coal from the Carmichael mine. However Adani has now lost one of its two big external customers when the letter of intent expired and was not renewed.
Adani loses Standard Chartered bank
British bank Standard Chartered announced it has ended its role advising Indian mining giant Adani on finance for its Galilee Basin mega coalmine and Abbot Point port expansion on the Great Barrier Reef. Standard Chartered was the last big bank to retain ties with Adani and leaves it without a financial adviser.
This follows the Commonwealth Bank cancelling its involvement with Adani and the Federal Court setting aside Greg Hunt’s approval of Adani’s Carmichael coalmine on August 5.
Mining giant Adani’s plan for a mega coalmine in Queensland’s Galilee Basin was dealt a near death blow on August 5 when the Federal Court set aside approval for the Carmichael licence.
The mine, if built, would be Australia’s largest, exporting up to 60 million tonnes of coal from the Great Barrier Reef coast every year. The federal environment minister gave the $16.5 billion mine and rail project approval in July last year. The current and former Queensland governments have been gung-ho in their support for the mine.
Financial evidence in the Queensland Land and Environment Court hearing on the proposed Carmichael coalmine in the Galilee Basin points to a venture that would operate at a loss and not result in projected increases in public revenue.
Evidence was presented by Rajesh Gupta, Adani’s local financial controller and Tim Buckley, financial analyst called by Land Services of Coast and Country (LSCC), the environmental group seeking to block the mine.
Gupta agreed under cross-examination the company would look to minimise its tax obligations within the law.
Proceedings in the Queensland Land and Environment Court concerning the objection by conservation group Land Services of Coast and Country (LSCC) to the Adani Carmichael coal mine in the Galilee Basin are drawing to a close.
LSCC’s objection to the mine is based on the claim that it poses an unacceptable danger to climate change, groundwater, the Great Barrier Reef and the endangered black-throated finch.
The State Bank of India had reneged on a $1 billion financing agreement for Adani’s Galilee Basin coalmine.
The loan was agreed to five months ago to help finance mining giant Adani’s plan to develop the Carmichael mega coalmine in Queensland’s Galilee Basin. This is the 12th global investment bank to publicly walk away from the proposal in recent months.
As the Galilee Basin project faces legal challenges by Aboriginal and other community groups and international banks refuse to finance it, the environment movement is focusing its campaign on ensuring that the Australian Big 4 banks also withhold finance.
Representatives of the Wangan and Jagalingou people made this announcement on March 27.
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