Banks Can Influence Projects

Read how this project is being moved away so it won't have impact on human health, fishing, farming or tourism


Nordea Backs Away From Gunns’ Pulp Mill
The Wilderness Society (Tasmania) Inc
AVAAZ.org
Joint Media Release
7 January 2010


Responds to Avaaz Campaign to Protect Forests
For the first time, Nordea bank announced today that it would not finance the Gunns’ pulp mill in Australia if its widely publicised environmental impacts were not curbed.

The announcement, made by Nordea via Twitter, came in response to a two-day blitz of public pressure. The campaign kicked off with an action from global campaign network Avaaz.org, and triggered engagement from thousands of Scandinavian citizens including many Nordea customers and shareholders.

“Avaaz.org members across Scandinavia have sent over five thousand emails and Twitter messages to Nordea in just the last two days to protect vital forests in Australia,” said Avaaz Executive Director Ricken Patel. “Many were customers threatening to take their business elsewhere if Nordea financed a pulp mill that will destroy some of the most important forests in the world.”

Nordea Communication Director Rune K. Sjøhelle responded to Avaaz's public Twitter petition today with the announcement that Nordea “would not finance a project in the form presented in the media so far.” (See full text below and at http://act.ly/1kz).

However, campaigners are working to ensure that Nordea lays out clear and strong environmental standards to use in evaluating whether to finance the mill.

“Until last week, Nordea was one of the only banks in the world that hadn’t ruled out financing the project in its current form,” said Paul Oosting, pulp mill campaigner for The Wilderness Society.

"Now Nordea must make clear the specific standards by which they would evaluate the project," said Mr. Oosting.

In response to public outcry, more than 15 leading banks around the world- including all those in Australia- have publicly declined to finance the mill. One Scandinavian company, Södra, has said that it would only consider the project given specific safeguards. Campaigners say that Nordea's safeguards must be at least as strong as Södra's and include moving the proposed mill to a more suitable site where it won't impact human health and local fishing, farming and tourism

"Gunns Ltd must not be permitted to shop around for a financier with the lowest environmental standards," said Mr. Oosting. "Nordea should join Södra and insist that any pulp mill development be totally chlorine free, Forest Stewardship Council certified, fully assessed to community standards, draw 100% on existing plantations rather than native forests and be situated in a different location.

"It's clear that Nordea is listening to its customers," said Mr. Patel. "Now it's time for Nordea to do the right thing and earn its customers' applause."

The campaign illustrates the growing reach of global civil society groups to shape the actions of international corporations.

"This campaign started with Australian Avaaz members asking Scandinavian members to take action," Mr. Patel noted. "With new high powered global citizens' movements like Avaaz, corporations and banks will face responsibility everywhere for what they do anywhere."


Full statement from Nordea:

Nordea has not made any decision or commitment to finance the project in Tasmania.

When customers approach us regarding new projects, we obviously consider whether it is possible to provide financing for the project according to our policies and procedures. Social and environmental impacts are always included in our evaluation of new projects, and we do not finance projects in conflict with international norms.

We cannot comment on potential customer relationships. However, we would not finance a project in the form presented in the media so far.

As part of our Corporate Social Responsibility, Nordea is a signatory to the UN Global Compact, the UNEP FI, the Equator Principles, and supports the OECD Guidelines for multinational enterprises.

Rune Kibsgaard Sjøhelle
Head of External Communications
Nordea Bank

From The Vanguard

Hope remains on saving ferry
by Michael Gorman/The Vanguard
Article online since January 9th 2010, 7:00

Hope remains on saving ferry
Work towards finding some kind of solution to the region ferry woes is continuing.

During a special Yarmouth Town council meeting on Dec. 29, topics were discussed ranging from writing a letter to the prime minister, passing a resolution that would garner support for the service from the Union of Nova Scotia Municipalities and whether or not it is an appropriate time to begin soliciting proposals for new ferry services.

What was clear during the meeting was that there are a number of questions that remain unanswered and time is of the essence with regards to getting answers and possibly salvaging some kind of ferry service for the 2010 season.

The region was stunned when Bay Ferries Ltd. announced on Dec. 18 that they were cancelling The Cat’s upcoming season due to a number of financial difficulties highlighted by the province’s decision not to grant a request for a $6-million subsidy.

Despite outcry from around the province and a meeting with delegates from Yarmouth, Premier Darrell Dexter resolved to hold his position that The Cat is an unsustainable service and will not receive one more dollar from the province.

Bay Ferries still has an exclusive lease on the ferry terminal in Yarmouth, something that wouldn’t be appealing to a new operator. And while there is word that several operators have contacted town officials to express interest in bringing a ferry service to the area, council decided they must first have a clear understanding of the situation with the terminal.

Yarmouth Mayor Phil Mooney said The Cat needs to be preserved long enough to get a monohulled service in place to take over, something he suggested could be ready as soon as November of this year or by January of 2011.

“That’s what everybody seems to want,” he said. “We’re about more than just tourists, (we also need) cargo and we’ve got to get our goods and services down to the United States.”

Much of what the town does next hinges on what the ACOA-funded transportation study will contain. The premier said two weeks ago that he would ask for the study, which was due in March, to be fast tracked. Mooney, who sits on the committee working on the study, said he believes the study can be ready by the end of this month.

Based on the options laid out in the study, the mayor said council would have a much better idea of what they need to do next.