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

Gordon Campbell:
On The Team Behind Trump's Throne

Forget the Putin factor. Daily, the team of charlatans, bigots and stunningly ignorant crackpots that Trump is appointing to head key federal agencies is just as alarming. These are positions with vast power and budgetary discretion over policies that stand to affect tens of millions of vulnerable Americans. Sad! More>>

 

Gordon Campbell: On Bill English, Abroad

If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common. Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues... More>>

ALSO:

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news