Press release – 26 August, 2014Sydney, Wednesday 27 August 2014: Greenpeace welcomes yesterday’s announcement by the University of Sydney that it will “make no further investments in the coal and consumable fuels subsector of the ASX,” including the controversial company Whitehaven Coal.Whitehaven Coal will announce its 2014 financial performance results at 10.30am today.
“The news is particularly bad for Whitehaven Coal, the target of a growing and sustained campaign of opposition to its Maules Creek coal mine,” said Greenpeace campaigner Nikola Čašule.
“Sydney University has taken a leadership role, implicitly admitting that fossil fuels are unethical investments.”
“Now they need to match words with action,” he said.
“While a halt to new investments is important, the University of Sydney can begin making a real difference to people’s lives today by dumping its existing $1 million investment in Whitehaven Coal – a reckless company that is bulldozing critically endangered box-gum forest, trashing Gomeroi cultural heritage sites, and exacerbating dangerous global warming.”
Reported in the Sydney Morning Herald
, a University of Sydney spokeswoman explained that the University’s current consultation includes:
“…investment in coal and consumable fuels is part of our ongoing review to ensure we meet our responsibilities to students, staff and donors".
“It’s encouraging to see such a respected institution acknowledging the negative impacts of its investments in coal on local communities and the environment,” said Čašule.
“Investing in coal companies like Whitehaven Coal is no longer in the interests of responsible institutions concerned about the future of our country and our planet. It is only a matter of time before other investors follow the University of Sydney’s lead and pull their shares out of this destructive company,” said Čašule.
For more information or interviews contact,
Elsa Evers
0438 204 041
or Nikola Čašule
0428 769 307
Images and video:
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