Email the banks to end deforestation
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Banking on a zero-deforestation policy
Dear ANZ, Commbank, NAB, Macquarie, Suncorp and RaboBank, I was happy to hear today that Westpac has become the first bank to rule out financing deforestation for beef, dairy and sheep farming and am writing to urge your banks to beat this commitment by ruling out all deforestation from 2020 onwards. Australia is one of the world’s most unique places, with species that exist nowhere else on earth. Yet tragically, Australia is also a global deforestation hotspot, having seen around 8 million hectares of forest destroyed since the start of the century. Our economy depends completely on a thriving environment, with around half of Australia’s GDP moderately to very highly dependent on nature. Banks can and should protect nature and our iconic species from the scourge of land-clearing and habitat destruction. To avoid panic clearing, banks should align zero deforestation commitments to international frameworks by ruling out financing companies and projects that have cleared land since 2020. I urge you to seize the momentum that has been building since the signing of the Global Biodiversity Framework and protect nature by ruling out post-2020 deforestation.
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