Australian Ethical walks away from Lendlease over koala development
March 13, 2023 - Australian Ethical has sold its shares in Lendlease Group (ASX: LLC) over its planned development at Mt Gilead in south-western Sydney that could threaten the survival of one of the last remaining healthy koala colonies in NSW.
In December, Australian Ethical warned it would divest its shareholdings in Lendlease if it proceeded with Stage 2 of the development in its current form without providing critical information about planned koala corridors.
Independent advice from the Office of the NSW Chief Scientist and Engineer (OSCE) makes clear that Mt Gilead is critical to the survival of this important koala colony and that wildlife corridors need to provide koalas safe passage across the site.
Australian Ethical says it has lost faith after recent talks with Lendlease stalled, and the NSW Department of Planning & Environment (DPE) has failed to commit to a meaningful public consultation ahead of its statutory deadline for making a decision by July 2023.
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