City of Greater Geelong – Stop funding the number 1 cause of climate change and Divest from Fossil Fuels!

City of Greater Geelong currently invests your council rates with the big four banks (Commonwealth Bank, NAB, Westpac and ANZ). We request that the Council joins the growing divestment movement by divesting the maximum amount possible from the big four banks into financial institutions which do not invest in fossil fuels.

Why is this important?

Since 2008, Australia’s big four banks have loaned almost $37 billion to new coal and gas projects in Australia. These projects threaten our land, water, health, the climate and precious ecosystems. As custodians of the majority of Australians’ money, the big banks need to be held accountable for how it is used.

Why councils?

Residents pay rates to their Council who invest this money in terms deposits until they spend it. These term deposits are often held with the big banks who loan money to fossil fuel projects. While Councils do a great job of protecting our local environment, they often don’t realise the connection between their banking and fossil fuel projects.

Which councils have already divested?

• Lismore (NSW)
• Moreland (VIC)
• Newcastle (NSW)
• Fremantle (WA)
• Goomalling (WA)
• ACT Government
• Marrickville (NSW)
• Leichhardt (NSW)
• Gloucester (NSW)

IT’S TIME FOR GEELONG TO DIVEST!

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