New Hope mining company referred to ASIC, accused of misleading investors over future of coal

NAB - Stop Funding Farmland Destruction!

New Hope - owner of the controversial Acland coal mine on prime farmland in QLD’s Darling Downs - has been referred to ASIC for misleading shareholders about the future of the coal industry.

New Hope is funded by a combination of Australian and international banks including NAB and their loans are up for re-negotiation. You can use this easy template to email NAB right now to tell them they should discontinue all funding to New Hope (personalise it if you’d like).

With the Acland mine Stage 3 project currently in the QLD Land Court again ...

NAB - Stop Funding Farmland Destruction!

New Hope - owner of the controversial Acland coal mine on prime farmland in QLD’s Darling Downs - has been referred to ASIC for misleading shareholders about the future of the coal industry.

New Hope is funded by a combination of Australian and international banks including NAB and their loans are up for re-negotiation. You can use this easy template to email NAB right now to tell them they should discontinue all funding to New Hope (personalise it if you’d like).

With the Acland mine Stage 3 project currently in the QLD Land Court again, now is our chance to stop our banks from financing this monstrosity! NAB has committed to reducing its exposure to thermal coal but not nearly fast enough. It needs to start by ruling out any more finance for New Hope!

Thankyou!

+

Email NAB

359 emails sent

Please add your thoughts to the message below.

Where do you live?

Compose your email

Name

Email

Subject:

I write to ask that you discontinue all financing and banking arrangements with the New Hope Group.

I am deeply concerned about the conduct of New Hope Group in relation to their New Acland mine - which you helped to fund - and the potential impacts of a stage 3 expansion which has already seen the removal of almost all of the buildings in the town of Acland despite the mine not yet being approved.

New Hope is a terrible corporate citizen having been found to be flouting environmental laws and their responsibility to the surrounding community on numerous occasions over the past decade.

Just in the past 5 years it has been found guilty of breaching noise limits, illegally drilling additional exploration holes, and breaching its water monitoring condition. It has also been under investigation for alleged illegal mining outside of its permitted area for the past 2 years.

Now New Hope has been referred to ASIC for misleading shareholders about the future of coal demand.

As one of Australia’s biggest banks you will know that the forecast for coal is grim. You have a policy to reduce thermal coal mining financing by 50% by 2028 and be effectively zero by 2035. You have recently stated you are beating that policy and expect your thermal coal mining exposure to reduce by 50% by 2026, and to be effectively zero by 2030.

While I applaud that effort I am asking that you step up your effort in light of the IEA’s guidance this year that no new investment in any coal mines or expansions is needed.

In particular, New Hope should not be the recipient of any new finance from NAB due to it’s devastating effect on the farming community where it operates and the climate we all share.

I would appreciate your guarantee that this will be the case.

How we use the data you enter on this form

Do Gooder (the advocacy platform powering this online action) processes personal information from you that you enter on this form so that we can provide the functions and related services to you and The Campaigner (the organisation responsible for this online action) for their legitimate purposes, including possibly exporting it to other systems, and to effectively respond to enquiries and communications related to those services.

Specifically when you enter:

Your location data (residential address or postcode) it is used to locate your elected representative, to pre-populate your email signature and to provide The Campaigner with a visualisation of the location of the support for this campaign.
All other data you may enter, including your email address, name, telephone number, commentary and so on is used by The Campaigner to advocate for the campaign’s goals and where required may be sent to the target of the campaign.

The data collected by Do Gooder is also used by us in aggregate form to improve the service and may be held on your behalf outside your country of residence by our third party service providers. These providers are bound by contract to only use personal information on our behalf, in accordance with agreed terms. While the privacy laws of the country in which personal information is stored or transferred may be different from those in your country, we will always have safeguards in place when storing or transferring personal information. We will never sell, rent, loan or in any other way pass your information on to other parties other than to provide this service to you and The Campaigner.

The personal information collected by Do Gooder is held subject to a Data Processing Agreement between Do Gooder and The Campaigner in compliance with the EU's GDPR and Australian law.

Learn more about our privacy policy here

How is my data used?