The Labor-dominated Newcastle council has defied pressure from unions and senior ALP figures to rescind moves to investigate moving a $270 million investment portfolio away from banks that fund ‘‘socially and environmentally’’ harmful projects and industry.
Labor’s Cr Declan Clausen, who moved the original motion, said it was not against the coal industry or coal jobs, but a symbolic move in support of ‘‘different jobs for the future’’ and a shift to renewables and a clean energy industry.