Siemens Stands by Australian Coal Project Despite Climate Outcry
- German company defies protests to honor signaling contract
- Kaeser says has to balance different stakeholder interests
Photographer: Ian Waldie/Bloomberg
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Siemens AG said it intends to honor a controversial contract to supply signaling systems to an Australian coal mine, defying the demands of activists and triggering more protests across Germany on Monday.
The company will establish a sustainability committee that will have the power to stop or escalate projects, but the company will ultimately continue with the Adani contract, Chief Executive Officer Joe Kaeser said in a statement on Sunday.