Something I didn’t pick up on this which is a good point. Stanmore has funded the debt vis hedge funds, not banks. The Australian pointed this out. Banks clearly wouldn’t fund the ‘dirty coal’ deal thanks to ESG warriors. All getting a bit crazy isn’t it? Meanwhile the bank, the ESG warriors etc sit in a building with steel that was made via met coal… this very transaction. Equally they virtue signalling with their iPhones powered by thermal coal, in fact the phone was likely made by thermal coal power generation.
Its all getting a little out of hand. I also suspect this deal would have at least netted another few hundred million even 500m if their wasn’t such a negative perception and lack of funding surrounding coal.
Ann: Divestment of BHP Mitsui Coal interest, page-10
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