Queensland Environment Minister Andrew Powell met with Deutsche Bank after the bank bank ruled out financing the Abbot Point coal port expansion, Senate Estimates has revealed.
Under questioning from Queensland Greens’ Larissa Waters, it was revealed the minister met with bank representatives in Germany after the investment bank ruled out funding for the coal port expansion in May, blaming disagreement the government and UNESCO on the potential damage to the Great Barrier Reef. The decision come after the bank had in 2013 helped refinance the lease on the existing 30-year-old terminal.
Senator Waters said Mr Powell say whether he asked the bank to reverse its decision not to finance Abbot Point.
Estimates also revealed that Federal Environment Minister Greg Hunt met with a German bank to discuss “potential investments in Australia” during a trip to Europe to meet with World Heritage Committee members, which had lumped the reef with an ‘In Danger’ listing, Senator Waters said.