BREAKING: Wall Street is Staying Away from the Great Barrier Reef Coal Port Expansion #SaveTheReef
Rainforest Action Network is campaigning to stop Abbot Point due to concerns over how terminal construction and operation would impact the Great Barrier Reef; building the terminal would require dredging an ecologically sensitive area of the Great Barrier Reef World Heritage Area. Additionally, if Abbot Point moves forward it could unlock one of the world’s largest untapped stores of carbon, the Galilee Basin, by providing critical export infrastructure. Nine new mega coal mines are currently planned for the Galilee Basin, five of which would be bigger than any coal mine currently operating in Australia. Galilee basin mines, if fully developed, would produce up to 330 million metric tons of coal per year for export, more than doubling Australia's exports. Australia is already the number two exporter of coal in the world.