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Financing of fossil fuel power stations 2008

A resolution passed by the Synod in 2008.

158/11S

Resolved:

That the Synod as a major customer of Westpac and ANZ banks

(i) write to Westpac and ANZ banks asking the bank to commit to ceasing its financing of the building of new coal fired power stations in Australia and fund transition strategies to clean energy

(ii) determine that if these banks are not willing to make this commitment,
(a) request the Ethical Investment Monitoring Committee of the Synod to consider adding these banks to their investment blacklist
(b) request Uniting Financial Services to consider this in their ongoing review of banking services contracts
(c) ask both Boards to report to the Synod Standing Committee on their final decisions