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Myth of ‘sovereign risk’ on Adani mine is busted

Media Release
Andrew Bartlett 21 May 2018

“The only constituency that really matters to Labor, the Liberals and the Nationals is their major donors, particularly in the fossil fuel sector”, said Senator Andrew Bartlett, Australian Greens spokesperson for Mining and Resources.

In the last 3 years alone the fossil fuel industry has donated more than $3.9million to the Labor, Liberal and National parties. So it is no surprise that politicians from all 3 parties continue to wilfully mislead voters about the economic case for coal mining.

“As Mr Saul Eslake, the former chief economist of ANZ has found, stopping Adani’s Carmichael coal mine will pose no sovereign risk to the Australian government.

“The real risk for Australia is our continued reliance of fossil fuels. Around Australia people are already feeling the impacts of global warming, it’s impacting people's lives and their livelihoods.  

“Just last week the Senate released a report into the Implications of climate change for Australia's national security. It found that climate change poses a clear and present danger to our country’s national security, and that failing to act on tackling global warming presents a direct security risk.

“As long as political parties from both sides continue to accept massive donations from the fossil fuel sector, their ability to make decisions in the interests of people, not corporate profits, is compromised.

“We must get corporate donations out of politics, end the addiction to fossil fuels and commit to no new coal mines”.


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