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Forest & Bird deliver fossil fuel ultimatum to ANZ

Forest & Bird deliver fossil fuel ultimatum to ANZ

15 May 2016

New Zealand's largest independent conservation organisation has put New Zealand's largest bank on notice to divest from fossil fuels or risk losing their business.

Hone McGregor, Chief Executive of Forest & Bird says “It’s important to Forest & Bird that the companies we do business with are not investing in fossil fuels.”

“Forest & Bird is currently a customer of ANZ, and we have advised them of our position. We have given them a 6 month time frame to develop a credible fossil fuel divestment plan. If ANZ wont divest, we will re-evaluate our banking options with a view to transferring our business to a banking provider who has, or will.

"Forest & Bird has a long history of opposing environmentally damaging fossil fuel projects. This includes a succession of Solid Energy mining proposals at Stockton, the Escarpment mine at Denniston Plateau, the oil and gas block offers and the Government proposal to allow mining on land protected under Schedule 4 of the Crown Minerals Act. Forest & Bird has taken cases in the Environment Court, High Court and Supreme Court in relation to mining fossil fuels, including the climate change impact of mining fossil fuels." says Mr McGregor.

“Climate change is a major threat to New Zealand’s unique and threatened native species, and Forest & Bird is a strong advocate for reducing greenhouse gas emissions. Recently the Royal Society warned that up to seventy native species could be extinct before the end of the century because of climate change.

"Across the globe, the fossil fuel industry has been responsible for major environmental damage and the loss of important natural habitats. Some of Forest and Bird’s most significant campaigns and legal cases have related to the damage caused by extracting fossil fuels.

"Forest & Bird doesn’t invest in fossil fuels. We have a policy of not investing in fossil fuels, and it is important to us that our banking provider supports this."

“We encourage other charities and businesses in New Zealand to deliver the same conditions to their own banking provider. By demanding responsible investment practices, and leadership from our Government, we can change the way this country, and the world, does business.

“Forest & Bird supports the actions of 350 Aotearoa in drawing attention to the investment choices of ANZ and other large banks in New Zealand.”

Click for:

Forest & Bird's full letter to ANZ CEO David Hisco

Free to use photos of the Stockton Mine in which ANZ has been a long standing investor


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