We've teamed up with GetUp! and BankTrack to fund an ad telling European banks not to finance Gunns' pulp mill.

Congratulations! Together we've raised enough money to run an advert in the European Financial Times.

Thanks to you, bankers and pulp and paper companies across Europe, Asia and Australia have been sent a clear message that Gunns' pulp mill is a high risk investment - one that will destroy the environment and pulp their profits. Gunns CEO John Gay has been traveling the world trying to convince financiers to invest in the 'world's greenest mill' but your efforts have made sure that the facts about Gunns environmentally destructive pulp mill will be understood around the world.

In response to the ad in the Financial Times logging industry representatives in Tasmania held a protest at our offices in Launceston. This was welcome proof that our campaign is reaching its target. A big thank you for helping to protect our forests from Gunns' Pulp Mill by making this ad happen!

Thanks to your generous support, the Wilderness Society - in conjunction with GetUp and BankTrack - has a full page advertisement in the European edition of the Financial Times pointing out why other banks should follow their lead and commit to not financing the pulp mill. Since the ANZ bank pulled out in May last year, the Wilderness Society has been working tirelessly to educate overseas banks about the inherent risks of this venture.

The 3/4 page newspaper ad appeared on page three of the European Financial Times on Thursday 30 April. Already a number of media outlets have picked up on this action;

• Banks urged to boycott Gunns
  ABC News online - 30 April 2009
• Wilderness pulp mill protest in Financial Times
  The Australian online - 30 April 2009
  

Thanks to the great response from you, we are able to run this ad in the Asian Financial Times - another region that we know Gunns' have been seeking financial backing for the forest hungry pulp mill.

We are now aiming to run this ad back in Australia. If you would like to take part in this action, please visit: http://wilderness.org.au/fundthisad

In a major development for the pulp mill campaign, the Wilderness Society has released a list of the world’s leading banks which have committed to not finance Gunns’ environmentally destructive pulp mill.

The following banks have committed not to finance Gunns’ pulp mill:

• Bank of China
• Deutsche Bank
• Royal Bank of Scotland                
• HypoVereinsbank
• Bank Austria
• UBS
• Erste Bank
• Calyon
• Banco Itau
• Unicredit
• Sumitomo Mitsui
• National Australia Bank
• Westpac
• Commonwealth Bank
• ANZ

“Leading international banks have committed to not finance Gunns’ socially and environmentally destructive pulp mill. This is a major step forward towards protecting Tasmania’s irreplaceable native forests and the livelihoods of Tasmanians,” said Paul Oosting, pulp mill campaigner for the Wilderness Society.

“Banks which were previously rumoured to be involved in financing the pulp mill, such as Deutsche Bank, the Royal Bank of Scotland, and the Bank of China, are among the banks which have committed to not finance the project,” said Mr Oosting.

“It is encouraging to see the finance sector recognising the risks associated with a project like this, which would lock in the destruction of Tasmania’s forests which contain massive amounts of carbon,” said Mr Oosting.

“No bank that adheres to environmental and social guidelines would finance a project that would be a major driver of climate change, wildlife loss and toxic pollution,” said Mr Oosting.

The following banks have not yet ruled out financing the pulp mill and will be named in the advertisement:

• Nordea
• Barclays Bank
• Macquarie
• JP Morgan Chase

“Gunns’ pulp mill does not have Federal Government approval to operate, is strongly opposed by the public and still faces possible legal challenges. We want all major banks to rule out financing the pulp mill,” said Mr Oosting.

“The Australian public is opposed to Gunns’ mill and running this advert in the Financial Times will ensure that potential investors know why they should not get involved with the most strongly opposed project in the country,” concluded Mr Oosting.

In the spirit of fairness, we sent an advance copy of the ad to all banks considering financing the mill, to give them a chance to declare otherwise. Within days, two of the main contenders have already told us they will not finance the mill.

This is a huge victory and we can stop this mill once and for all with your support.

A big thank you to all of you who made this happen by donating!

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