German banking giant Deutsche Bank have been accused of breaking its promise to not fund a controversial new Queensland coal mine by Wangan and Jagalingou custodians in a new video.
Wangan and Jagalingou – Standing Our Ground launched a new video targeting Deutsche Bank over its continued collaboration with Adani Group which will be shown at the bank’s annual general meeting.
“Deutsche Bank – You broke your promise,” the video says.
“You said you wouldn’t fund Adani.
“By funding Adani you are complicit in the ethnic cleansing of our people and the destruction of our cultural heritage.”
Deutsche Bank – You broke your promise. You said you wouldnt fund Adani. This video is being played at the Deutsche Bank annual general meeting, with the help of a shareholder.
Deutsche Bank stop financing Adani now! pic.twitter.com/kVOrwBvPdh
— Wangan and Jagalingou – Standing Our Ground (@WJWarriors) May 15, 2022
The group says they are acting to protect land, water and culture from the Carmichael coal mine.
Deutsche Bank ruled out funding the Carmichael project in 2014, and has stated it supports the goals of the Paris Agreement and achieving net zero global emissions by 2050.
However, the bank is funding other Adani projects, such as participating in the US$1 billion bridge loan to Adani Enterprises to cover its purchase of the Mumbai International Airport, facilitating Adani redirecting internal funds to Carmichael.
A Deutsche Bank spokesperson said they could not provide information on client relationships for legal reasons.
“We have had a strict policy on coal power and mining since 2016,” the spokesperson said.
“Since then, we do not directly or indirectly finance the construction of new coal-fired power plants or new mining projects for the extraction of coal, nor the related infrastructure.”
“They found a shareholder and that shareholder was able to get that video into the annual general meeting and to submit a question to Deutsche Bank,” he said.
Mr McAvoy said his ongoing presence on the mining lease was part of a campaign to keep the spotlight on Adani.
“We have a notice from the Queensland Police acknowledging we are the people from here and that they don’t want to interfere with our cultural practices,” he said.
“Adani can’t kick us off and the government can’t kick us off.
“I will continue to stay here and make more and more videos to expose this.”
Mr McAvoy alleged Adani had secured an Indigenous Land Use Agreement with people who “don’t come from our Country”.
Adani was contacted for comment on Tuesday.
A report by Environmental Law Australia in 2016 projected the mining and burning of coal from Adani’s Carmichael project is likely to generate an estimated 4.7 billion tonnes of greenhouse gas emissions.
The video runs for one minute in English with German subtitles.