December 23, 2013

Couple sell $50k in ANZ shares

Last week my husband and I sold our $50,000 worth of ANZ shares.

We did not do this lightly. This is a load of money for us and represents many years of toil. We believe we have acted as informed and concerned Australian citizens, greatly worried about our country’s future and the impact of investment by banks like the ANZ in fossil fuel projects.

We are Queenslanders who have watched with dismay the of coal and gas projects onto Australia’s prime agricultural lands.  We have also witnessed the negative social, economic and environmental impacts of mining.

ANZ does not invest near us necessarily, but this isn’t just a NIMBY action. We made this decision because we cannot afford to view the impacts of any large coal mines in isolation. The Greenhouse Gas Emissions from any single project are too high and, as well as the mines of the Galilee and Surat Basins in Queensland, will push Australia into being one of the greatest polluting nations on earth.

Over 70% of this State is in drought and we learn of increasing likelihood of health impacts, fires or storm events. Coal Seam gas is also a polluting fossil fuel source, with large impacts on aquifers and significant methane gas emissions.

I no longer wish to be associated with any company which does not demonstrate always a deep and abiding sense of social and environmental responsibility and concern for the future of this amazing country. We will be looking closer at any future investments. The questions are not just what are the benefits of any financial investments to us, but what are the impacts to mankind and our environments that support and sustain us all.

Note: out of respect for this couple’s privacy, they will remain anonymous.