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Small Australian Mining Firms Being Squeezed Out by Climate-Change Activism

Small Australian Mining Firms Being Squeezed Out by Climate-Change Activism
Local Australian resource firms say financial institutions driven by climate change are constricting the industry by withholding vital insurance and loan services crucial for new mining projects.
Leading some companies to warn that global mining conglomerates who can go offshore for financial support will become more entrenched as smaller businesses risk closing. This comes as a parliamentary inquiry examines the impact the financial sector is having on Australian exports.
Chair of the Joint Standing Committee on Trade and Investment, George Christensen, said mineral exports generated billions in revenue for the country, and any impact on the industry needed to be scrutinised. ....

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Billson calls for crackdown on banks denying "basic banking services"

Source: AAP/Tracey Nearmy
Small business ombudsman Bruce Billson is calling on the federal government to require financial institutions to explain why they withdraw or deny insurance and banking services to small businesses.
In a submission to an inquiry into the prudential regulation of investment in Australia’s export industries, Billson said many small businesses are “unable to obtain insurance or banking services based on industry, location and other factors”.
The inquiry was established on February 17 to examine opportunities for the nation’s export industries, and how changing practices across banking, insurance and superannuation institutions are challenging businesses.
Speaking to ....

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Australia's small-business ombudsman proposes powers to veto banks' bans on mining projects

Australia's small-business ombudsman proposes powers to veto banks' bans on mining projects
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