US bank BNY Mellon cuts ties with Adani’s Carmichael coalmine
by Ben Butler from on (#5RHQ8)
Bank says Queensland mine and rail line do not fit in with its environmental, social and governance principles
One of the world's biggest banks has pulled out of providing financial services to Adani and its controversial Carmichael coalmine, saying the venture is incompatible with its environmental, social and governance rules.
The Bank of New York Mellon's move comes after a campaign by local Indigenous people, who have been occupying the mine site and conducting cultural ceremonies.
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