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April 14, 2021

National Day of Divestment Action puts banks on notice

The National Day of Divestment Action is a chance for people to let the major banks know they don’t want them to support the fossil fuel industry. On May 2, 2021 environmental groups including 350 Australia and Market Forces are asking people to take their money out of the big four Australian banks as a protest against their support of the fossil fuels industry.

money city

The climate change activists argue Westpac, CBA, ANZ and NAB have loaned almost $19 billion between them to new coal and gas projects in Australia since 2008. “These projects threaten our land, water, health, the climate and precious ecosystems like the Great Barrier Reef,” 350 Australia said.

“The National Day of Divestment Action is way to show the big banks that fossil fuels are not only bad for the climate, environment and communities – they’re bad for business. If the banks won’t divest from fossil fuels, then we’ll divest from them,” 350 Australia said.

The group’s website has a list of events happening around the country where people can come together to show their support for divestment.

There is also an online guide to show people exactly what to do to divest from their major bank, including a list of alternatives.

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