Whitehaven Coal is the biggest undiversified coal mining company on the Australian share market. Their plans to massively expand the coal industry are completely at odds with the Paris Agreement goal of limiting global warming to 1.5°C. Keeping global warming within this levels means no new coal mines or expansions, and rapidly winding down production from existing mines.
Whitehaven is funded by at least 13 Australian and international banks, including NAB and Westpac. Many of these financial institutions claim to support the Paris Agreement and the goal of net zero emissions, yet have continued to support a company pursuing new coal projects inconsistent with these goals.
As the latest climate science makes clear, there is no time to waste. It’s time for these banks and super funds to walk away from Whitehaven.