Letter to ANZ, re fossil fuel divestmentPosted: September 28, 2015
28 September, 2015
David Hisco and Jeremy Salthouse, ANZ Senior Execs
Auckland, New Zealand 1010
Dear Mr Hisco and Mr Salthouse,
To keep global warming under 2 degrees Celsius (the level that scientists agree we cannot exceed if we’re to keep within safe limits) we must leave 80% of known fossil fuel reserves in the ground. It is no exaggeration to say that the move away from fossil fuels to renewable alternatives is imperative if our children are to inherit a planet in which they can survive.
As an individual, I believe I should do all that is in my power to facilitate the transition to a cleaner future. As a customer, I expect nothing less from the institution that manages my money; therefore I request that you divest from fossil fuels, and unequivocally rule out any future loans to coal and gas mining, transport and export projects.
As a customer, I am concerned about the impacts of climate change and the risk that investing in oil, gas and coal companies poses for my savings.
Thousands of customers in Australia, and now in New Zealand, have been leaving behind some of the major banks because of their heavy investments in the outdated and destructive fossil fuel sector. Like me, they understand the important role that institutions have in the protection of our planet, and choose to entrust their money to those who will not support irresponsible projects.