ANZ response
Well that was a quick response (with phone number !! - feel free to call ;-)they must be getting a lot of enquiries. Interesting that they put in a note regarding their reliance on an independent set of principles to base their decision on.
Will be interesting to keep track of the progress of this.
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Ref: NN/336580
11 October 2007
Dear Mr Kammel
Re Proposed Pulp Mill, Tamar Valley Tasmania
Thank you for your correspondence. We appreciate the time you have taken to raise your concerns with us. I am responding on ANZ’s behalf.
ANZ has not made a decision on whether to finance the project and will only do so once we have considered our client’s proposed compliance with all government conditions.
The Tasmanian Parliament approved a permit for the mill on 30 August, which contains detailed operating conditions for the project.
The Federal Minister for the Environment and Water Resources approved the project under the Environment Protection and Biodiversity Conservation Act 1999 on 4 October, subject to Gunns Limited satisfying 48 conditions. The conditions include effluent management measures and protection of wildlife and vegetation.
In addition, we have committed to applying the Equator Principles to our decision. The Equator Principles are a set of internationally recognised standards designed to ensure participating banks make financing decisions based on sound social and environmental standards.
The Principles require us to ensure there have been comprehensive social and environmental assessments of the project and that the client has prepared an action plan which contains mitigation measures, corrective actions and monitoring measures to manage the issues identified by the assessment. We have engaged an independent environmental expert to assist us with this process.
In summary, we will only fund the mill once we are assured that:
• all potential significant social and environmental issues have been identified;
• measures to manage these are put in place by the client; and
• the regulating governments are satisfied with these measures.
In doing so, we will be taking into account the views of a wide range of stakeholders, including those who have raised concerns about the potential social and environmental impact of the proposal.
Our approach is set out on our website at www.anz.com/aus/About-ANZ/Corporate-Responsibility/Environment/Current-Issues.asp. Please visit the above web page for any updates as this issue progresses.
If you would like to discuss this issue further, please do not hesitate to contact me on 03 9273-4991.
Yours sincerely
Gerard Brown
Group General Manager Corporate Affairs
Will be interesting to keep track of the progress of this.
<<<<
Ref: NN/336580
11 October 2007
Dear Mr Kammel
Re Proposed Pulp Mill, Tamar Valley Tasmania
Thank you for your correspondence. We appreciate the time you have taken to raise your concerns with us. I am responding on ANZ’s behalf.
ANZ has not made a decision on whether to finance the project and will only do so once we have considered our client’s proposed compliance with all government conditions.
The Tasmanian Parliament approved a permit for the mill on 30 August, which contains detailed operating conditions for the project.
The Federal Minister for the Environment and Water Resources approved the project under the Environment Protection and Biodiversity Conservation Act 1999 on 4 October, subject to Gunns Limited satisfying 48 conditions. The conditions include effluent management measures and protection of wildlife and vegetation.
In addition, we have committed to applying the Equator Principles to our decision. The Equator Principles are a set of internationally recognised standards designed to ensure participating banks make financing decisions based on sound social and environmental standards.
The Principles require us to ensure there have been comprehensive social and environmental assessments of the project and that the client has prepared an action plan which contains mitigation measures, corrective actions and monitoring measures to manage the issues identified by the assessment. We have engaged an independent environmental expert to assist us with this process.
In summary, we will only fund the mill once we are assured that:
• all potential significant social and environmental issues have been identified;
• measures to manage these are put in place by the client; and
• the regulating governments are satisfied with these measures.
In doing so, we will be taking into account the views of a wide range of stakeholders, including those who have raised concerns about the potential social and environmental impact of the proposal.
Our approach is set out on our website at www.anz.com/aus/About-ANZ/Corporate-Responsibility/Environment/Current-Issues.asp. Please visit the above web page for any updates as this issue progresses.
If you would like to discuss this issue further, please do not hesitate to contact me on 03 9273-4991.
Yours sincerely
Gerard Brown
Group General Manager Corporate Affairs