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

 

Sounds Like A Plan: Auckland Council Receives Unitary Plan Recommendations

A key milestone in New Zealand planning history was reached today when the Independent Hearings Panel delivered the reports containing its recommendations on the Proposed Auckland Unitary Plan. More>>

ALSO:

National Park Expansion: Forests And Coast Of Kahurangi Protected

Five parcels of high value land totalling more than 890 hectares have been formally gazetted as part of the National Park. More>>

ALSO:

PPP Go-Ahead: SkyPath Gets Unanimous Support

Auckland’s SkyPath project has been given the go-ahead to be delivered through a public private partnership, after a unanimous decision at today’s Finance and Performance Committee. More>>

ALSO:

Gordon Campbell: On The Reserve Bank, The UN Shortlist, And Trump

Can there really be there any link between the US presidential elections and yesterday’s RBNZ signals on interest rates and the NZ dollar? Well, maybe. And it would be this: the improving US economy is reportedly putting a tailwind behind the US dollar, and rendering the actions of our Reserve Bank virtually irrelevant. More>>

ALSO:

Gordon Campbell: On What John Key Should Be Asking Joe Biden

No doubt, US Vice-President Joe Biden will be updating Prime Minister John Key on the chances of a TPP vote taking place in the ‘ lame duck’ session of Congress that’s held between the November’s election and the inauguration of a new President in January. More>>

ALSO:

Make NZ Make Again: Greens Will Establish A Minister For Manufacturing

The Green Party announced today that it will establish a Minister for Manufacturing in Cabinet, to better represent the interests of manufacturers and ensure they thrive. The Minister will be inside Cabinet and have responsibility for the long-term interests of the manufacturing sector. More>>

ALSO:

Cannabis Party: Treasury Figures On Cost Of Criminalisation

Figures released by Treasury prove the economic viability of The Cannabis Party's policy, while destroying the credibility of police claims about cannabis harms. More>>

ALSO:

Green Party: Investigation Into Mental Health Facilities Shows Disarray

The Health Minister must urgently launch an inquiry into mental health services, after serious issues with the standard of care at mental health and disability facilities around the country were revealed today, the Green Party said. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news