Another bank bites the dust.
It's an incredible win and it's thanks to SumOfUs members like you -- Standard Chartered has publicly said it's cutting ties with coal mining that could ruin the Great Barrier Reef.
The pieces that could make this coal expansion project happen are crumbling fast.
But it's not over -- the Carmichael mega mine could be re-approved by Environment Minister Greg Hunt in the next 6 to 8 weeks, even though the Federal Court overturned the approval. And electronics giant LG has pledged to buy 4 million tonnes of coal from the Carmichael mine.
Let's ride on the momentum to get LG to do the right thing. Companies don't want to be associated with this project because it's too risky -- financially and reputationally.
LG's a company that relies on people liking and feeling good about its brand to sell products. If we can put enough pressure on LG, we could force it to stop propping up the project, like we did with Standard Chartered.
Can you send a quick message to LG's CEO to not buy this coal and save the Reef?
By buying coal from the Carmichael mine, LG is helping unleash a ticking carbon bomb that will have tragic consequences globally. Reef coastal waters in the World Heritage Area will be dredged so more coal can be exported.
SumOfUs has been working as part of a global coalition to save the Reef from companies that are putting their profit-driven interests above our Reef.
These past couple of weeks have been phenomenal for the Reef. Standard Chartered and CommBank have cut financial advisory ties with Adani, the mining giant behind the project. That brings the total number of banks that have rejected involvement in Adani's plans to 13!
And on top of all that, the Federal Court overturned the Carmichael mega coal mine's approval -- although our sources say that as soon as a few weeks from now that could be reversed, which is why we need to keep up the pressure to stop this mine from all angles.
We wouldn't have had these victories without the countless SumOfUs members that stood up to banks in Australia and overseas demanding that they don't invest in the coal project.
Running this campaign against LG is one of the few battles we have to win before this project is dead.
By writing to the CEO, we can send a powerful message directly to the top that LG's potential coal purchase will harm its reputation and its profits -- and we know that's one thing companies care about.
Will you be a part of the movement to save the Reef? Send a quick message to LG's CEO to not buy the coal now.
More information:
China, Korea to buy coal from Adani Group's Australia Mine, Economic Times, 3 March 2015
Coalition will take six to eight weeks to revise its Carmichael coalmine approval, The Guardian, 5 August 2015
Adani and Commonwealth Bank part ways, casting further doubt on Carmichael coal project, The Sydney Morning Herald, 5 August 2015
Standard Chartered quits controversial Carmichael coalmine in Queensland, The Guardian, 10 August 2015