Idiots in science: scientists call for banks to rule out financing coal

A group of leading Australian scientists has called on major banks not to finance the massive expansion of coal projects in Queensland's Galilee Basin.

In an open letter, nine scientists, including Nobel prize winner Peter Doherty, former Australian of the Year Fiona Stanley, and Melbourne scientist and Climate Change Authority board member David Karoly, say the project cannot go ahead when countries are trying to avoid more than 2 degrees of global warming.

"Projects such as the Carmichael Mine would not be able to achieve financial closure without the support of banks to both finance and advise on its construction. Banking institutions are therefore in a unique position to influence decisions vital to the future health of the planet and its peoples," the letter states.

The letter continues by saying banks have a responsibility to consider "the suffering and irreversible damage to earth systems that the opening up of the Galilee Basin in central Queensland would help bring about."

http://www.smh.com.au/federal-politics/political-news/australian-scientists-call-for-banks-to-rule-out-financing-galilee-coal-20150521-gh6wk8.html

Idiots in science: scientists call for banks to rule out financing coal

Idiots in science: scientists call for banks to rule out financing coal

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