Whitehaven Coal is the biggest undiversified coal mining company on the Australian share market.
Whitehaven’s plans to massively expand the coal industry are completely at odds with the Paris Agreement goal of limiting global warming to 1.5ºC. To justify its business plans, Whitehaven refers to coal demand scenarios consistent with a catastrophic chance of almost 3ºC of global warming.
Whitehaven is funded by at least 13 Australian and international banks, including NAB and Westpac. Most of Australia’s top 40 super funds are also yet to rule out investment in Whitehaven. Many of these financial institutions claim to support the Paris Agreement and goal of net zero emissions by 2050 yet have continued to support a company pursuing new coal projects inconsistent with these goals.
Your email will be sent to Bank of China, Sumitomo Mitsui Banking Corporation, Industrial & Commercial Bank China, National Australia Bank, Westpac, Mizuho Bank, Bank of Communications, MUFG Bank, Caterpillar Finance Corporation, Deutsche Bank, China Everbright Bank, and Nippon Export and Investment Insurance.
As the latest climate science makes clear, there is no time to waste. It’s time for these banks and super funds to walk away from Whitehaven.
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