The #StopAdani campaign has been going on for over 10 years, with local victories like saving Australian taxpayers from lending $1 billion for a railway, forcing the mine to size down to a third of its original scope, and repeatedly delaying the export of any coal. But its biggest impact has probably been on the the international coal industry and its financing. The Adani Carmichael mine has had to change its name (to Bravus), and the Abbott Point Coal terminal has had to become NQXT, as it tries to refinance its heavy debt. The wonderful team at Market Forces explain the impact of NQXT to potential investors.
Stop Adani Bravus Abbot Point NQXT.
The #StopAdani campaign has been going on for over 10 years, with local victories like saving Australian taxpayers from lending $1 billion for a railway, forcing the mine to size down to a third of its original scope, and repeatedly delaying the export of any coal. But its biggest impact has probably been on the the international coal industry and its financing. Stop the Money began as Australia’s Big 4 Banks one by one were forced to announce policies to stop lending for new thermal coal mines. It then spread to groups like Lloyds of London who ruled out insuring coal (and in some cases oil and gas) projects worldwide. Well over 100 corporations have refused to back the Adani mine, forcing Gautam Adani to use personal funds to pay for this dirty mine, its railway, and its port. Adani has also been engaging in greenwashing, called out for example by scientists refusing to have their work featured at the Science Museum in London because of its association with Adani Green Energy. The Adani Carmichael mine has had to change its name (to Bravus), and the Abbott Point Coal terminal has had to become NQXT, as it tries to refinance its heavy debt.
The wonderful team at Market Forces have created a site that explains all to potential investors in NXQT – and to assist them all you have to do is click on the link nqxt.org to help push it up in the Google search engine. Information is powerful – help make sure it gets into the right hands.