Dear Avaazers across the world, I ndia’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 “at risk” and six 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_92_/?bvjguib&v=49309
The Great Barrier Reef is the largest living organism on Earth and home to a
quarter of all the species in the world’s oceans. 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 he intends to phase out
coal imports in two 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.
The State Bank’s Board says it will listen to the public, so our million-strong
petition, a flood of messages, ads, and reports can encourage them 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_92_/?bvjguib&v=49309
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-SBI-loan/articleshow/45185035.cms
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-troubled-waters/
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-on-loan-for-galilee-basin-coal-project-20141119-11pnrf.html
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...
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