Ethical Corporation

Australian bank ANZ is having second thoughts about financing the controversial Gunns pulp mill in Tasmania. Gunns, Australia’s largest wood pulp company, has had its fair share of negative publicity lately. Despite receiving regulatory approval in October for what would be Australia’s largest pulp mill, in Tasmania’s Tamar Valley, the company has come under sustained attack from both local and international non-governmental organisations, state and federal politicians and leading scientists. Now institutional investors are reported to be unhappy with the project, while its primary banker, ANZ, has stated its determination to finish an independent technical review before agreeing to arrange vital project financing.

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