September 2, 2015

Korean Electronics Giant LG says no to purchasing Adani’s Galilee coal

Sydney, Wednesday 2nd September  – After signing a letter of intent to purchase coal from Adani’s Carmichael coal mine in March, Korean electronics giant LG (Life’s Good) has tonight confirmed that the letter has expired and the company will not be purchasing coal from Adani’s proposed Carmichael mine in Queensland’s Galilee Basin*.

“What company would want its brand associated with a project that will cook the climate and wreck the Reef?” said Blair Palese, CEO of Australia. “LG’s decision is a smart one — life’s good without Galilee coal.”

In March, LG signed a non-binding off-take agreement with Adani to purchase 4 million tonnes of coal from its proposed Carmichael coal mine in the Galilee Basin. Today’s response from LG follows an NGO-led campaign calling upon the electronic giant to say no to the ill-fated coal project.

“LG’s announcement is yet another blow to Adani and a sign that this project doesn’t have two feet to stand on. Already 14 major banks have said no to financing Galilee coal. It’s therefore no surprise that LG would refuse to purchase Adani’s polluting and dangerous coal.

In June, and environmental organisations representing over 44 million members worldwide sent LG an open letter urging them to withdraw their involvement in Adani’s Carmichael coal project. Members of the online campaigning organisation SumOfUs have since sent LG over 11,000 emails, calling upon them to cancel their letter of intent.

“It’s time Australia’s Government followed the lead of banks and companies globally who are refusing to involve themselves with Galilee coal. Aside from being an environmental disaster, this project is also a financial disaster. For our Government to consider putting taxpayers’ money into propping it up, speaks volumes to their reckless attachment to coal,” Palese said.

*An extract from the confirmation email sent to NGOs tonight is here.