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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
General Images Of Coal Stockpiles At Newcastle Port

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.