pdf of habitat - Australian Conservation Foundation

NewsBreaching to the investorsWhen community, landowners and thelarge swag of Australians all say no toa gas hub in a whale nursery yet theproject lumbers on, who you going to call?The investors.Photo:Damian KellyACF’s economist Simon O’Connorknows smart business and released a third InvestorAlert, driving home real concerns aboutWoodside’s Browse Basin gas development proposedfor James Price Point in the Kimberley.The Investor Alert was distributed to 150large institutional investors across Australia, theUK, Europe and Asia, targeting Woodside’s majorshareholders and some of the world’s largestinvestment funds holding shares in the joint venturepartners (Shell, BP, Chevron, BHP Billiton).Our investor report outlines the real and presentcombination of environmental, economic andsocial risks associated with the project.Woodside are risking shareholder value, land,culture and heritage with their proposed gasdevelopment.> > The report has gone to over 150 investors, covering27% of Woodside’s shareholders.> > These investors have included fund managers,analysts, super funds, research providers, assetconsultants as well as major Asian gas buyers.> > ACF has delivered three investor conferencecalls to Australian, European and UK investors,covering many of Australia’s largest investors.> > The proposed James Price Point gas hub andthe briefings continue to gather strong mediacoverage in business press.> > Many investors are indicating they’ll be raisingtheir concerns directly with Woodside andjoint venture partners.We’re briefing investors on the economic senselessness of theproject and making them aware of the strong opposition to theproposal.The majority of investment analysts are unconvinced thatJames Price Point is a better option than the alternative of pipinggas to an existing gas plant further south in the Pilbara.The Investor Alert clearly states it’s time for Woodside to grabthe life raft and stop the industrialisation of our beautiful Kimberley.The investment community is primed to agree.www.acfonline.org.au/kimberleyhabitat11