QBE’s hypocrisy to be exposed at its upcoming AGM

QBE’s hypocrisy to be exposed at its upcoming AGM

The QBE Insurance Group board yesterday circulated a recommendation for shareholders to vote against a resolution ensuring the company protects world heritage and RAMSAR sites, including the Greater Blue Mountains from the raising of Warragamba Dam wall [1]. The resolution, which was lodged by the Colong Foundation for Wilderness and 100 other supportive shareholders, will be voted on at the company’s upcoming AGM on the 7th of May.

Gundungurra Traditional Owner, Kazan Brown, said:

“QBE’s support for the dam project flies in the face of its own Reconciliation Action Policy.” The policy states:

“[QBE will] Develop and maintain mutually beneficial relationships with Aboriginal and Torres Strait Islander peoples, communities and organisations to support positive outcomes.” [2]

“We call on QBE to respect our people, community and culture by publicly opposing the raising of the Warragamba Dam wall. Raising the dam would destroy over 300 of our cultural sites within the Greater Blue Mountains World Heritage Area.”

GIVE A DAM Campaigner Manager, Harry Burkitt, said:

“Despite QBE being a signatory to UN Environment’s Principles for Sustainable Insurance Initiative, who last year signed a pledge to protect the outstanding universal value of World Heritage Sites, the company continues to promote the dam raising project and oppose adopting a simple world heritage policy [3].

““Despite QBE being fully aware that the UNESCO World Heritage Committee is seriously alarmed about the Warragamba Dam proposal’s impact on the Blue Mountains, the company continues to promote the dam raising project [4].

“Shareholders will have the opportunity to hold the board of QBE accountable for the implementation of its own policies at the upcoming AGM in May.”

Media contact:
Harry Burkitt
+61 490 010 909
[email protected]

[1] https://www.qbe.com/-/media/group/agm/8919_qbe_nom20_v9%20-%20final.pdf
[2] https://www.qbe.com/au/about/sponsorship-community/reconciliation-action-plan
[3] https://whc.unesco.org/en/news/1851
[4] https://www.theguardian.com/australia-news/2019/jun/09/unesco-advisers-raise-concerns-over-plan-to-raise-warrangamba-dam-wall