Investing in the great barrier reef as economic infrastructure. Environmentalists on saturday welcomed deutsche bank s reluctance to invest in a major port expansion near australias great barrier reef, saying it reflected global concern about the project. Deutsche bank australia latest breaking news, pictures, videos, and special reports from the economic times. Deutsche bank rule out destructive great barrier reef. Want to be among the first to hear about new products, sales and more. A free powerpoint ppt presentation displayed as a flash slide show on id. Biological data of great barrier reef fish datasets open. The danajon bank double barrier reef is one of the six doublebarrier reefs made of numerous species of corals in the world. Great barrier reef scores d for health for fifth year in a.
A major german bank wont consider funding a controversial queensland coal port expansion because it says there isnt consensus over how it will impact the great barrier reef. Deutsche bank reluctant to invest in great barrier reef coal. The great barrier reef the 8th wonder of the world. Shell, agl, commonwealth bank, deutsche bank, boral limited and many other.
Us banks vow not to fund great barrier reef coal port, say activists. With the deutsche bank refusing to fund the expansion of one of the worlds biggest coal ports near great barrier reef in australia, adanis plan to import coal from the country has hit a roadblock. Port threat to great barrier reef deutsche bank has refused to fund the expansion of a coal port near the great barrier reef in australia. Bank, citigroup, morgan stanley, hsbc, and other global lenders have declined to fund expansions at the port of. Download for free on all your devices computer, smartphone, or tablet. At least two senior government officials, including one tasked with protecting the great barrier reef.
Coral reef image bank a collection of mediaquality imagery and resources, made available free for noncommercial use to support the global mission to save coral reefs. Deutsche bank pulls funding for coal ports on great. The australian environment minister has been put on notice, says greenpeace, after one of the worlds largest banks, deutsche bank, pulled back from funding abbot point coal expansion at its annual general meeting last night, citing concern over its impact on the great barrier reef world heritage area. See a turtle and a school of coral fish above in a larger map here. Deutsche bank has refused to fund indian conglomerate adani enterprises plans to expand a port near the great barrier reef in australia, dealing the project a symbolic blow, according to a media. Best seafood restaurants in great barrier reef, queensland. Credit agricole and deutsche bank have now both made statements that preclude finance for a project that would endanger the great barrier reef. Stay at night on a liveaboard in the extraordinary great barrier reef. There is no consensus between unesco and the australian government regarding the expansion of abbot point in the vicinity of the great barrier reef.
A planned expansion of a major coal port close to australias great barrier reef has divided the financial community, with deutsche bank ag ruling out. Twenty greenpeace hong kong activists took action at standard chartereds hong kong headquarters today, just hours before the companys annual general meeting in london, urging the bank to end its association with one of the worlds largest coal mines threatening the world heritage great barrier reef. Day visitors depart midafternoon and then overnight guests have hardy reef and reefworld all to themselves. Oct 28, 2014 the great barrier reef is one the worlds largest coral reef systems and the biggest single structure made by living organisms. Overnight stay at australias first underwater premium accommodation on the great barrier reef. I have recently joined the sum of us though and live in hope that people power will build and have influence over turning around unethical corporate decisions.
May 23, 2014 a major german bank wont consider funding a controversial queensland coal port expansion because it says there isnt consensus over how it will impact the great barrier reef. From saving our climate and our great barrier reef, to achieving greater social and economic equality for all peoples, getup members work towards a more fair, flourishing and just australia. Great barrier reef day tours see the best of the reef. Sometimes unaware, people can damage coral reefs simply by touching them. Deutsche bank rejects port project over great barrier reef. Inshore reefs those that can be reached from shore by a small boat are vulnerable to more threats than those further from shore.
When deutsche bank appeared likely to fund abbot point, getup members raised funds for a full page ad in the financial times across europe. Tony brown is a tourism operator in whitsundays and he became a shareholder with deutsche bank the express purpose of speaking at their agm on behalf of those fighting to protect the great barrier reef. Feb 02, 2014 could bankers save the great barrier reef. Oct 20, 2016 the great barrier reef has been given a d on a report card for its overall health by the federal and queensland governments for the fifth year in a row the results of the annual report card were. The activists have said that the expansion poses environmental threat to the great barrier reef, a fragile ecosystem comprising coral reefs and.
To export all the coal produced from the galilee basin projects, coal will have to be shipped through the great barrier reef world heritage area. Adani groups great barrier reef project in troubled waters. Jun 15, 2014 never mind that the great barrier reef is already in peril the government has approved the development of five plans for five megaports along queensland coast threatens great barrier reef. But in the light of the great barrier reef marine park authoritys approval to dump 3m. Surely if european banks are making this commitment, we could expect the same from the large australian banks. Deutsche bank refuses to fund coal port expansion near. Great barrier reef foundation took big business on. A great resource to keep on hand as a prompt and spelling reference during independent writing tasks and other activities. Germanys biggest bank has pulled out of a controversial queensland coal port expansion because it says there is no consensus over how it will impact the great barrier reef deutsche bank.
Policy black hole leaves deutsche bank as one of big. Danajon bank the doublebarrier reef made of corals. Reuters reported that, following outcry from environmental activists and tourism operators, deutsche bank has stated it will not aid in the funding of coal port expansion near australias great. Great to know that 200,000 people in germany care about our reef and that deutsche bank is listening to them.
It has an area of more than 340,000 square kilometers and can be seen from outer space. Deutsche bank refuses to finance port expansion near great. In response, chief executive officer stuart gulliver said it was extraordinarily unlikely it would go near it. Press release hsbc follows deutsche banks lead to rule.
Great barrier reef declaration of amalgamated marine park. The great barrier reef has been listed a world heritage site by unesco. The large extent of reefs creates great barrier reef building processes. Deutsche bank ags onandoff effort to sell its giant realestate fund group is taking its toll on one of the worlds largest propertyinvestment businesses. After lunch, guests can snorkel, dive, swim or take a scenic helicopter flight to see the famous heart reef extra cost. Kohlehafen bedrohen nemos heimat am great barrier reef. During the expedition, the divers found corals in 10 out of the 15 dive sites in the area. A tourism operator from the great barrier reef has come halfway around the world in a lastditch attempt to save his business. Plans for five megaports threatens great barrier reef. The danajon bank doublebarrier reef is also known as the center of the marine biodiversity in the pacific, because a wide range of marine life are bounded in this area. Major global banks around the world rbs, deutsche, hsbc etc have already declined funding for the project which when developed could export 60million tonnes of coal a year and ship it through the ecologically fragile great barrier reef. One way to achieve this is to stop large commercial banks from financing the fossil fuel industry. The great barrier reef is the worlds largest coral reef system composed of over 2,900 individual reefs and 900 islands stretching for over 2,300 kilometres 1,400 mi over an area of approximately 344,400 square kilometres 3,000 sq mi.
Deutsche bank refuses to fund adanis coal project in australia. Sep 26, 2012 follow a mantra ray near lady elliot island, the great barrier reef here. Coal ships passing through the great barrier reef world heritage area will increase from 1,722 in 2011 to a capacity close to tens of thousands by the end of the decade. Ppt the great barrier reef powerpoint presentation free. Dec 02, 2014 activists gun for indian billionaires great barrier reef project.
Government officials deny coal lobbying claims after. Deutsche bank pulls out of coal projects to meet paris climate pledge. Adani groups port expansion project near great barrier. Juergen fitschen, deutsche banks cochief executive, told shareholders that the bank would not be involved in the so. Australias great barrier reef has suffered very widespread damage after rising sea temperatures caused the third mass coral bleaching events in five years, authorities said. To stop a further climate breakdown we urgently need to bring the fossil fuel era to an end. Deutsche bank wont fund abbott point coal port expansion. By taking a few simple actions, everyone can reduce the damage that is befalling our coral reefs. Deutsche bank refuses to finance great barrier reef coal.
At hsbc holdings agm in london on friday, the company was asked about hsbcs willingness to match deutsche bank s commitment not to fund the abbot point port expansion adjacent to the great barrier reef. I have recently joined the sum of us though and live in hope that people power will build and have influence. The danajon bank double barrier reef is also known as the center of the marine biodiversity in the pacific, because a wide range of marine life are bounded in this area. Great barrier reef a semiunique mix of platform reefs, fringing reefs and.
Trump sues deutsche bank and capital one to block democrats. Deutsche bank has a long track of supporting environmental sustainability and takes the future of the great barrier reef very seriously. Deutsche bank, royal bank of scotland, hsbc and barclays all ruled out funding the development. Eight international banks barclays, citigroup, deutsche bank, goldman sachs, hsbc. Aug 29, 2014 when australians think of the great barrier reef they probably think of holidays, swimming and snorkelling but the real driver of the economy is mining, an industry that is more dominant than you. May 23, 20 can banks make a profit by investing in the great barrier reef. The 10 best outdoor activities in great barrier reef.
The great barrier reef vs indias largest bank share tweet sbi, dont fund coal, fund solar, read one of the placards outside indias largest public sector bank where activists gathered this morning for a protest. Coastal coal and gas projects are already threatening its world heritage status, but a series of proposed new export terminals would lock in environmental disaster for the reef. Banktrack deutsche bank says no to financing of coal. Can banks make a profit by investing in the great barrier reef. Deutsche banks shareholder meeting in frankfurt, together with tony brown, a tourism operator from the great barrier reef and advisor. Angria bank has the potential to become indias great barrier reef, says baban ingole, chief scientist, nio. It takes the protection of world heritage sites very seriously. Deutsche bank refuses to bankroll barrier reef port. The danajon bank double barrier reef is one of the six double barrier reefs made of numerous species of corals in the world. Great barrier reef between the fossil fuel industry and its massive expansion plans is an australian natural icon. Deutsche bank says no to financing of coal harbor on. Deutsche bank pulls funding for coal ports on great barrier reef. Deutsche bank has announced that it will not support the controversial expansion of an australian coal port that environmentalists fear may threaten the great barrier reef.
One doesnt need to be an expert to have a positive impact on coral reefs. Indian conglomerate adani groups plan to raise billions of dollars to expand a port near australias great barrier reef has been dealt a symbolic blow after deutsche bank refused to fund the. Contact your bank commonwealth bank, westpac, anz, and nab could be all that stand between adani and our great barrier reef. Westpac still backs great barrier reef destruction green. We never receive any money from the government or political parties. Organisations such as greenpeace, aycc and market forces are now calling on westpac and the other big australian banks to do the same. Several european banks, including deutsche bank, hsbc and the royal bank of scotland, have already ruled out financing the great barrier reef coal port expansion amid growing pressure from environmental groups. The port facilities at abbot point in north australias queensland province were approved by the australian government last year subject to strict environmental regulations. Biological data of great barrier reef fish open data certificate awarded biological measurements on fish sampled between 1988 and 1993, in the southern great barrier reef capricornbunker and swain groups. Impact at deutsche bank s singapore operations will be more muted compared to other regional hubs such as hong kong, although the german lender declined to elaborate on the number of employees who will be affected here. Big us banks balk at funding great barrier reef coal port. The great barrier reef is the largest coral reef in the world. Apr 30, 2019 trump sues deutsche bank and capital one to block democrats the lawsuit seeks to prevent deutsche bank and capital one from responding to subpoenas from two house panels seeking personal financial.
Could bankers save the great barrier reef marine park. The danajon bank double barrier reef is also known as the center of the marine biodiversity in the pacific, because a. Deutsche bank, one of the worlds biggest investment banks. Banktrack royal bank of scotland rules out financing. Coal, cumulative impacts, and the great barrier reef. In answer to your question viv, no i cant see any other banks following suit. Activists gun for indian billionaires great barrier reef project. Visit an ancient boulder coral at apo islands marine reserve, the philippines here. New, improved sunscreen developed by studying great barrier reef corals advanced aquarist 20 read article download pdf werte magazine. Germanys biggest bank pulls funding for abbot point coal. The reef is located in the coral sea, off the coast of queensland, australia. If we want to preserve the reef, other banks now need to follow, he adds. Juergen fitschen, coceo of deutsche bank, has made it clear to the companys shareholders that the bank would not be involved. Deutsche bank has a long track record of supporting environmental sustainability.
Deutsche bank reluctant to invest in great barrier reef. Mountaintop removal impacts on the blair mountain, west. In yet another sign of major international banks growing unwillingness to fund coal terminal projects that threaten the iconic great barrier reef, royal bank of scotland last night joined deutsche bank and hsbc in publicly ruling out financing of the controversial abbot point coal terminal near bowen, queensland. Is any bank dumb enough to fund the galilee basin coalapolooza. Australia reef sees 3rd coral bleaching in 5 years times. It consists of more than 2,000 islands some parts of which have never been explored and nearly. A campaign by several ngos asserted that deutsche bank was the most likely bank to back expansion at abbot point due to an alleged financing of a prior. Greater investment would be justified with a less conservative asset valuation.
Australian brings reef fight to deutsche bank the storytellers dw. Cruise to the outer great barrier reef for an overnight tour on a liveaboard vessel, and snorkel and dive in sparkling waters teeming with life and enjoy with friends a multishare liveaboard accommodation onboard. Germanys largest bank has refused to fund the project following pressure from green activists and conservation bodies including unesco. Us banks vow not to fund great barrier reef coal port, say.