Right now, Britain's Standard Chartered Bank is helping Indian mining giant Adani to unlock one of the world's largest coal mines and ship that coal right across the Great Barrier Reef.
Standard Chartered has already loaned hundreds of millions of dollars to Adani. Now, they’re slated to help Adani raise billions more to get the Galilee Basin carbon bomb launched. If Standard Chartered pulled out, it could sink this project once and for all.
As we raise the heat on the world's biggest banks to say no to the Galilee, the last thing we need is Standard Chartered swooping in to prop up Adani so that they can cook the climate and wreck the Reef.
It beggars belief that any Bank would be so dumb. Already, 11 global investment banks, from Wall Street to High Street, won’t touch the Galilee with a barge pole. And luckily, there are signs that Standard Chartered may be wising up to the absurdity of this destructive project.
Responding to questions about the project at their AGM last month, Standard Chartered agreed to put their involvement on hold whilst they review the project’s environmental credentials. If we raise our voices now, we can show Standard Chartered that the only credentials this project has are disastrous ones. Together let's get them out of the Galilee once and for all.