So that’s the issue. Is it true that ANZ Bank continues to invest in fossil fuel exploration and extraction? Is it true that ANZ Bank and its investors continue to make profits from destroying the planet’s ecosystem?
Isn’t that criminal
Brian Loffler, writing an open letter to the CEO of the ANZ bank on Divestment From Fossil Fuels
on the New Internationalist blog.
FoE Adelaide simulcast the Canberra “Do the Math”
meeting with Bill McKibben from 7pm on June 5th
at the BH209 Lecture Theatre,
The Barbara Hanrahan building,
City West Campus,
University of SA,
Thanks to 350.org.au for making the feed available
and the School of Information Technology and Mathematical Sciences,
Division of IT, Engineering and the Environment at UniSA for providing the venue.
We had an audience of 39 for the talk, followed by a short panel with activists from various groups working on Climate Change.
BZE had their scale model of the Solar Thermal plant for Pt Augusta on display, and we handed out leaflets from FoE, 350.org et alia.
There’s a meeting for those interested in a fossil fuels divestment campaign next Wednesday, May 8th, at 6pm in the community room at Christie Walk (entry via 101 Sturt St).
If you’re interested, please come. If you can’t come, you can leave an expression of interest by leaving a comment below
BackgroundAs Bill McKibben noted in his Rolling Stone Article last year — “Global Warming’s Terrifying New Math”, the fossil fuel companies currently have six times as many conventional reserves as they could safely burn if we are to stay below 2 degrees global warming.
For the past year he has been touring the US, urging institutions to divest themselves of shares in these companies.
Now this movement has come to Australia.
FoE affiliate Market Forces is looking at three key areas:
(a) divestment of fossil fuel shares;
(b) disentanglement of super from fossil fuel companies;
(c) removal of government subsidies for fossil fuels.
In the US, the GoFossilFree campaign is encouraging unis, towns and citizens to divest themselves. [3]
The Renew Economy website has reported on divestment and the recent
report on potentially stranded assets from The Australia Institute:
“The report, Unburnable Carbon: Australia’s carbon bubble, warns that much of the nation’s coal reserves will become worthless as the world hits carbon emission limits, and that there is little fossil fuel companies can do
little to avoid this.” Download the report