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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (857532)	5/16/2015 11:58:31 AM
From: Wharf Rat	of 1574060

One never knows. Hadrian, the Roman Emperor once said while building the Roman Empire, "Brick by brick my citizens, brick by brick." Major French banks rule out Galilee coal investment. Meanwhile, in Australia… By Sophie Vorrath on 9 April 2015 Australia’s big four banks have come under renewed pressure to rule out financing the development of mega-coal mines in Queensland’s Galilee Basin and associated Abbot Point port and rail expansion, after France’s three biggest banks became the latest to reject investment in the controversial projects. “This project is a flashing ‘stranded-asset’ light to global investors,” Senator Milne said in a statement. “These French banks are some of the world’s biggest coal industry lenders and even they can see that investing in the Galilee Basin coal mines is environmentally and financially reckless,” she said. Global fossil fuel divestment campaigner, 350.org, has seized the opportunity to call on Australian banks to follow the lead of the French banks, with a particular focus on the Commonwealth Bank – which has been advising and looking to finance Adani. reneweconomy.com.au Alcoa to shut its Victorian brown-coal mine and power plant with 85 jobs lost “The Anglesea community’s campaign effectively made this polluting coal plant a stranded asset. Coal operators must be wondering which coal-affected community will be next to revoke the social licence.” theguardian.com Divestment Statement September 2014 The Rockefeller Brothers Fund, a private charitable foundation established in 1940, has been working to better align its endowed assets with its mission since 2010, when the board of trustees approved a commitment of up to 10 percent of the endowment to investments consistent with the foundation’s Sustainable Development program goals. The Fund's initial priorities for investments from this 10 percent pool are focused on support for clean energy technologies and other business strategies that advance energy efficiency, decrease dependence on fossil fuels, and mitigate the effects of climate change rbf.org

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