Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Kiwis Dump Westpac over Fossil Fuel Investments

12 April 2014

Kiwis Dump Westpac over Fossil Fuel Investments

Today 8 Westpac customers gathered in Christchurch to hold a mass Westpac bank account closing event.

More than 160 people all over the country have signaled they plan to close their Westpac accounts this week as part of a campaign led by 350 Aotearoa and Coal Action Network Aotearoa calling on Westpac to stop its financing of Bathurst Resources, the company that has permits to mine the Denniston Plateau for coal.

‘Like so many other Westpac customers around the country, I have asked Westpac to make good on their sustainability promises and stop financing the company which plans to mine at Denniston,’ said 350 Christchurch supporter Tor Wainwright.

“Unfortunately, Westpac has not held up its sustainability commitments. They are funding climate change through their financing of Bathurst, so I am closing my accounts with them today.”

Recent media releases from Westpac have shown that even while they like to claim a strong record on “sustainability” they have questioned the science behind climate change. “I don’t want to do business with climate change deniers” said Wainwright.

The movement for institutions and corporations like banks to divest from fossil fuels is growing around the world, with banks such as the European Investment bank and the World Bank signaling they plan to stop new investment in new coal projects. Recently the Norwegian Government Pension Fund pulled all of its investments out of fossil fuel companies – including Bathurst. “Investing in coal mining is undermining all the work that people, families and communities are doing around the world to fight climate change,” said Wainwright. “I expect my bank to work with me for my future, not against me.”

Coal is a major contributor to climate change, the impacts of which will leave nobody untouched, according to the latest IPCC report released this month.

‘Westpac markets itself as the most sustainable bank. But investing in a company planning the most climate changing project in Aotearoa is the definition of unsustainable. Westpac can’t have its cake and eat it too when it comes to climate change,’ said Wainwright.

“Closing my bank accounts wasn’t easy or simple, but it feels good to know that I’m not allowing any of my money to fund this destruction. I’d rather be part of the solution than stay with Westpac and be part of the problem.”

More Info at http://350.org.nz/

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Parliament Today: State Opening Of Parliament

The House sits at 10.30am today before MPs are summoned to hear the Speech from the Throne in the Legislative Council Chamber.

The speech delivered by the Governor-General on the Government’s behalf outlines its priorities for this Parliament.

After this MPs will return to the House for the presentation of petitions and papers and the introduction of any bills.

The Government has five notices of motion on the Order Paper which can be debated. These relate to relating to the appointment of the Deputy Speaker, Assistant Speakers, the reinstatement of business in a carryover motion and one on “Entities to be deemed public organisations”. More>>

 

Tertiary Education: Students Doing It Tough As Fees Rise Again

The Government is making it increasingly difficult for Kiwis to gain tertiary education as fees continue to rise and access to student support becomes even more restricted, Labour’s Tertiary Education spokesperson Chris Hipkins says. More>>

ALSO:

Housing, Iraq: PM Press Conference – 20 October 2014

Prime Minister John Key met with press today to discuss:
• Housing prices and redevelopment in Auckland
• Discussions with Tony Abbott on the governmental response to ISIS, and New Zealand’s election to the UN Security Council More>>

ALSO:

Labour: Review Team Named, Leadership Campaign Starts

Labour’s New Zealand Council has appointed Bryan Gould as Convenor of its post-General Election Review. He will be joined on the Review Team by Hon Margaret Wilson, Stacey Morrison and Brian Corban.

ALSO:


Roy Morgan Poll: National Slips, Labour Hits Lows

The first New Zealand Roy Morgan Poll since the NZ Election shows National 43.5% (down 3.54% since the September 20 Election). This isn’t unusual, National support has dropped after each of John Key’s Election victories... However, support for the main opposition Labour Party has crashed to 22.5% (down 2.63% and the lowest support for Labour since the 1914 NZ Election as United Labour). More>>

ALSO:

In On First Round: New Zealand Wins Security Council Seat

Prime Minister John Key has welcomed New Zealand securing a place on the United Nations Security Council for the 2015-16 term. More>>

ALSO:

TPP Leak: Intellectual Property Text Confirms Risk - Jane Kelsey

The US is continuing its assault on generic medicines through numerous proposed changes to patent laws. ‘These are bound to impact on Pharmac if they are accepted’, according to Professor Kelsey... Copyright is another area of ongoing sensitivity... More>>

ALSO:

RMA: Smith Plans Reform To Ease Urban Development

Newly appointed Environment Minister Nick Smith has announced Resource Management Act reform to foster urban development, where high land prices and expensive resource consents are blocking efforts to provide affordable housing. More>>>

ALSO:

Gordon Campbell: On New Zealand getting involved (again) in other people's wars

Apparently, the Key government is still pondering how New Zealand will contribute to the fight against Islamic State. Long may it ponder, given the lack of consensus among our allies as to how to fight IS, where to fight it (Syria, Iraq, or both?) and with whose ground troops, pray tell? More>>

ALSO:

Gordon Campbell: On child poverty, and David Shearer’s latest outburst

The politicisation of (a) the public service and (b) the operations of the Official Information Act have been highlighted by the policy advice package on child poverty that RNZ’s resolute political editor Brent Edwards has finally prised out of the Ministry of Social Development. More>>

ALSO:

Gordon Campbell: On the government’s review of security laws

So the Key government is about to launch a four week review of the ability of our existing legislation to deal with “suspected and returning foreign terrorist fighters, and other violent extremists.”

According to its terms of reference, the review will consider whether the SIS, GCSB and Police are sufficiently able right now to (a) investigate and monitor suspected and returning foreign terrorist fighters… More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news