We recently moved our readers to a new system. You may need to reset your password here to login.
Not a member ? Join here for free.
Forgot your password?
Home Portfolio Energy & Environment Newcastle’s ‘divestment’ is a chance for coal rethink
Text size :
DEPARTMENTSCity of Newcastle
TAGS Environment, City of Newcastle, Coal, Nuatali Nelmes, renewables
While the Newcastle council decision may not trigger divestment from fossil fuels, it is a chance for the world’s largest coal port to consider its future direction.
The City of Newcastle council’s Tuesday night endorsement of an “environmentally and socially responsible” investment policy threw more mud than a pig wrestling competition at the country show.
The controversy thickened as stories emerged that the council also recently accepted an A$12-million offer to expand coal terminals at its port, the world’s largest in terms of coal exports.
Amid jeers of hypocrisy and cheers of climate leadership, what can we really say about this policy move in one of New South Wales’ historic coal towns?
The council’s unprecedented move to adopt an investment policy which applies traditional investment criteria but also adds a “preference for environmentally and socially responsible investment (if criteria are met)” might rate a media mention, given the recent fossil fuel divestment move by certain universities and governments.
Receive unlimited access, get all the latest public sector news and features, plus The Juice, our daily news update sent direct to your inbox.
The Mandarin is where Australia's public sector leaders discuss their work and the issues faced within modern bureaucracy. Join today to discover the latest in public administration thinking and news from our dedicated reporters, current and former agency heads and senior executives.
Research Fellow, Melbourne School of Government at University of Melbourne.
Read Related Content