Coal, climate change collide as customers query banks' green credentials

Posted by on May 20, 2014 at 12:10 AM


Sydney Morning Herald, 20 May 2014

After 35 years of banking with big Australian banks like National Australia Bank, Paula and Peter Samson closed their accounts to protest the lenders' exposure to the polluting fossil fuel industry.

The Samsons, who live in Perth and drive an electric car, are part of a hundreds-strong, environmentally-driven movement that is taking hold in Australia after sweeping through the United States over the past year or so.

Protesters like the Samsons have withdrawn about $200 million worth of deposits from the "Big Four" banks - NAB, Commonwealth Bank, Westpac and ANZ - since the divestment campaign began last year, according to data from Market Forces, an independent environmental group that tracks the operations and investments of banks and their effects on the environment.



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Categories: News Items, Big Picture - National

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