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New coal mines are financial "madness" - analysts

2014-09-22 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed

RTCC: A controversial coal project that threatens Australia`s Great Barrier Reef and the climate makes no financial sense for investors, say analysts. Plans for greenfield mines in the Galilee Basin involve building new port terminals near the fragile coral ecosystem. If they reach full production, Greenpeace estimates the mines could lead to carbon emissions equivalent to the seventh largest country in the world. In a new report, the Carbon Tracker Initiative (CTI) warns investors that this is among...

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