Right now, one of Australia’s biggest coal mining companies Whitehaven Coal have alarming plans to DOUBLE coal production by 2030 – and NAB are at serious risk of financing 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 three new proposed coal projects off the ground – and it's likely they'll approach previous financiers like NAB for help first.
If Whitehaven's coal expansion plans go ahead, they would unleash over 1.1 billion tonnes of carbon emissions, the equivalent of almost twice Australia’s annual emissions.
NAB pride themselves on their goal to align with global efforts to keep warming within the safer limit of 1.5°C. However, NAB continues to finance fossil fuel companies like Whitehaven Coal, despite the world's scientists warning that there can be no new coal, oil or gas projects if we are to avoid catastrophic climate change.
It’s time to expose NAB’s greenwash.
Write to executives now and tell them to rule out financing Whitehaven and their climate-wrecking coal plans!