Banking on the Reef’s future
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Financial activist group Market Forces has released “Financing Reef Destruction”, a report investigating the weight of banking investment on oil and gas projects in the Great Barrier Reef. The report found that Australia’s “big four” banks – ANZ, Westpac, Commonwealth and NAB – have invested $4bn in Reef exploration over the last four years. Market Forces is hoping to convince Australians to rethink where they invest their money – and what effect it might be having on one of Australia’s cultural icons.
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