Commonwealth Bank CAN'T do this!

To Commonwealth Bank's Chairman David Turner, CEO Ian Narev and the Entire Commonwealth Bank Board:

We refer to an article published last week in the Australian Financial Review, “Adani’s week of positives in an anti-coal atmosphere”, which states that the Commonwealth Bank is one of two lead banks arranging finance for Adani’s proposed T0 project at Abbot point, rail line, and Carmichael mine. To date, CommBank has not confirmed or denied this.

This project will have grave consequences for the Great Barrier Reef and the global climate, and presents a number of financial, environmental, reputational, and legal risks. Since August, thousands of Commonwealth Bank customers and shareholders have called on the bank to publicly rule out involvement in the Abbot Point expansion and associated mines and rail infrastructure.

If the Bank does not publicly rule out involvement in this project as a matter of priority, you can expect growing opposition over the coming weeks and months.

I urge the Commonwealth Bank to show leadership and publicly rule out any involvement with Adani over this project.

Signed,

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CAN you believe it? Last week, the Australian Financial Review named the Commonwealth Bank as an arranger for Indian mining giant Adani’s plan to build the world’s largest coal port on the Great Barrier Reef. The Bank is yet to confirm or deny the statement.

The Abbot Point coal port expansion would enable coal companies to unlock nine mega mines in Queensland’s Galilee Basin that will cook the climate and wreck the Reef.

Over the past 12 months, over 150,000 Australians have urged Commonwealth Bank to get out of fossil fuels and say no to Abbot Point. They’ve met with branch managers, taken out full page newspaper ads, asked questions at AGMs, shut their accounts and moved millions out of the Bank. Already eight major international banks have said no to Adani - they recognise how dodgy and damaging this crazy deal is.

But CommBank is not listening so we need to step things up - send a letter to CommBank today!

Commonwealth Bank is a major sponsor of the Great Barrier Reef Foundation. Their Chairman is on the Foundation’s Board. CommBank used to play a lead role in Reef protection. They say they take climate change seriously. So how come they’re working for one of the dodgiest power companies to unlock Australia’s biggest carbon bomb and irreparably damage the Reef?

Help us talk sense into CommBank – tell them they CAN and must say no to Adani today.