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One bank to wreck a world wonder?


Dear Avaazers across the world,

India’s coal king Adani wants to turn the delicate Great Barrier Reef into a major shipping lane. But if we act fast we can sink his dirty coal complex by getting the State Bank of India to turn down his billion dollar lifeline:

SIGN THE PETITIONIndia’s coal king is bidding for a $1 billion bank loan to turn one of the world’s ecological treasures into a major shipping lane. But if we act fast we can block his billion and keep the Great Barrier Reef home for whales and dolphins, not hulking coal ships.

UNESCO says the project puts the Reef in danger and eight leading international banks have backed away. Now it’s up to the State Bank of India to make or break it. The Bank’s Chairwoman has staked her reputation on cracking down on “bad loans” — and a massive global campaign can persuade her to scrutinise and stop this crazy coal project.

Public pressure has already changed other banks’ minds, so add your name now to say no to the world’s worst loan. When we hit a million, we’ll prep a definitive dossier showing its financial and environmental problems, then deliver it to Chairwoman Bhattacharya with legal letters and a media blitz:

https://secure.avaaz.org/en/india_great_barrier_reef_loc_v2aj/?bcTyjbb&v=49510

The Great Barrier Reef is the largest living organism on Earth and home to thousands of protected species. In the past three decades it’s lost around half its coral, due to pollution from mines, climate change and other factors. German magazine Der Spiegel reported that “if current trends continue, the unthinkable could happen: the Great Barrier Reef could die.”

This wild coal rush is toxic for the planet. Coal is the dirtiest fossil fuel, and to get the coal to India, Adani would need to expand a shipping lane right through the Reef. Some argue that India needs coal to pull people out of poverty, but India’s own coal minister just announced that India should be able to phase out coal imports in the next three years , long before the Australian mine is ever completed!

Campaigns by Avaaz and others, plus doubts over the project’s viability, have persuaded banks like Citigroup and Deutsche to say no to Adani’s planned Carmichael coal mine and infrastructure complex. Now the State Bank of India is under fire from India’s press and political opposition.

69% of Indians polled said they were against this project. As the head of India’s largest state-backed bank the Chairwoman will have to listen to public opinion and our million-strong petition, a flood of messages, ads, and reports can encourage the Board to turn Adani down. Add your voice now to hit a million against the reef-wrecking coalmine :

https://secure.avaaz.org/en/india_great_barrier_reef_loc_v2aj/?bcTyjbb&v=49510

Time and again this year our community has shown it can rise to the challenge of making our climate safe for future generations. We’ve been fighting for the Great Barrier Reef for a long time so let’s ensure we unite again to save it from this catastrophic coal complex.

With hope and determination,

Danny, Nick, David, Alex, Oli, Alaphia, Nic, Ravi and the whole Avaaz team

MORE INFORMATION

Adani’s Australian project gets $1 billion SBI loan (The Times of India)
http://timesofindia.indiatimes.com/business/india-business/Adanis-Australian-project-gets-1-billion-...

Adani group’s Great Barrier Reef project in troubled waters (Forbes)
http://www.forbes.com/sites/meghabahree/2014/05/29/adani-groups-great-barrier-reef-project-in-troubl...

India could bankroll Adani group’s delayed Australian coal mine (IB Times)
http://www.ibtimes.co.uk/india-could-bank-roll-adani-groups-delayed-australian-coal-mine-1475143

National Stock Exchange of India quizzes Adani on loan for Galilee Basin coal project (Sydney Morning Herald)
http://www.smh.com.au/business/mining-and-resources/national-stock-exchange-of-india-quizzes-adani-o...

SBI’s $1 billion loan to Adani makes no sense, here’s why (firstbiz)
http://firstbiz.firstpost.com/economy/sbis-1-billion-loan-to-adani-makes-no-sense-heres-why-108668.h...

India rejects Galilee Basin Coal (Market Forces) http://www.marketforces.org.au/indiacoalpolling

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