Market Forces forum in Airlie

Over the past 10 years, billions of dollars have been loaned to the Australian fossil fuel industry by the big four Australian Banks.

Many of these projects have been responsible for significant environmental damage including the destruction of prime agricultural land and nature reserves, contamination of aquifer, declining air quality and the industrialisation of iconic sites including the Great Barrier Reef World Heritage Area.

As well, fossil fuels, in particular coal, are also the biggest source of carbon emissions in the world and therefore the greatest driver of climate change. 

Funding decisions made by banks to support fossil fuel projects have a massive impact on our climate, environment, health, communities and economy.

It is incumbent on these institutions to withdraw their support for the destructive and dangerous activities of the fossil fuel industry.

Market Forces has recently released a report titled 'Fueling the Fire' which examines more than $135 billion in loans made by Australian and international banks to the local fossil fuel industry.

For the first time the report also examines lending by the big four banks to renewable energy compared with lending to the coal, gas and oil sectors.

On Tuesday, August 11, Mr. Julien Vincent, lead campaigner at Market Forces, will be in Airlie Beach to discuss the role the big four Australian banks are playing in financing the expansion of Australia's fossil fuel industry.

"The event will focus not only on the national picture but also local fossil fuel projects impacting upon the Airlie Beach area," Environment Council of Central Queensland's Tony Fontes said.

"Importantly, actions individuals can take to make a difference will be covered. There will be plenty of time for general discussion."  

The event is free and will be held at the Airlie Beach Hotel at 5.30pm on Tuesday, August 11. 

For more information, contact tony@ecoceq.org.au .


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