Whitehaven Coal have plans to DOUBLE their coal mining operations with four dangerous new coal projects – and NAB are funding the expansion.
Since 2016 NAB have loaned hundreds of millions of dollars to Whitehaven, including most recently a loan of $110 million in 2020. We know that Whitehaven need another $4 billion to get their coal expansion plans off the ground, and it’s likely they’ll approach previous funders like NAB for help first.
The world’s scientists warn that all coal expansion must stop immediately to avoid runaway climate change. We cannot afford another dollar for coal.
That’s why people across the continent are dropping into their local NAB branches, talking with staff and customers, sending emails, making phone calls, and dreaming up new creative ways to tell NAB to rule out funding Whitehaven Coal!
Will you join the campaign? Sign up to get started!
Whitehaven have big coal expansion plans
Whitehaven Coal are one of Australia’s largest coal producers and Australia’s biggest “pure play” coal corporation – that means they only mine coal. Whitehaven Coal have no climate policy, no plans to ever stop mining coal, and no place in a liveable future beyond coal.
Whitehaven Coal are serial offenders who have repeatedly broken the law, with devastating consequences for water, the environment, farmers, and local communities. What’s more, Whitehaven have a history of undermining First Nations rights and destroying Aboriginal cultural heritage.
Right now, Whitehaven Coal plans to double their coal production with four massive new coal mining projects: Winchester South in Central Queensland, Vickery and Narrabri Underground Stage 3 in NSW, and a new coalfield close to Narrabri called Gorman North.
When emissions from digging up and burning the coal are added, over their lifetimes just three of those mines would unleash almost 1.1 billion tonnes of carbon emissions, the equivalent of almost twice Australia’s total annual emissions.
NAB are funding climate chaos
Since January 2016, NAB have loaned $9.5 billion to fossil fuels, including $110 million to Whitehaven Coal in 2020.
NAB says they have a goal to align with global efforts to keep warming within the safer limit of 1.5°C. But to achieve that goal, the International Energy Agency and the world’s scientists say all coal expansion must stop immediately.
So why are NAB pouring millions into Whitehaven Coal – a company who justifies their business plans by referring to coal demand scenarios consistent with 3ºC of global warming – a truly catastrophic level of heating that would bring widespread ecological and societal collapse?
For too long, NAB have greenwashed their image with empty climate promises, while using loopholes to keep funding reckless fossil fuel corporations, including Whitehaven Coal. But NAB’s climate commitments mean nothing if they continue enabling coal expansion.
It’s time for NAB to cut the greenwash. NAB must stop funding climate chaos, starting with ending support for Whitehaven Coal.
Take Action
If we can push NAB to choose people and nature over coal, then we can stop crucial funding for Whitehaven’s coal expansion AND set a powerful precedent for all banks to follow – #NotAnotherDollar for coal!
Adopt a NAB branch
Join the wave of staff and customer engagement happening at NAB branches across the country! Sign up today and we’ll help you get started.
Tell NAB Executives: Stop Financing Coal
Send an email to NAB executives telling them to stop financing climate-wrecking coal!