22 October 2021 Amidst ever-worsening extreme weather and the hits to their bottom lines it is causing, two of Australia’s three big insurers faced shareholders at their annual general meetings (AGM) recently (IAG was today, Suncorp on September 23rd). Over the last...
Adani must not be allowed to greenwash itself at UK climate summits
12 October 2021 Coal billionaire Gautam Adani cannot be allowed to greenwash his company’s reputation in front of world leaders and investors at the Global Investment Summit in London and the United Nations COP26 in Glasgow. Hosted by the UK Government on 19 October,...
Hamilton Insurance Group sets new low with meaningless ESG principles
5 October 2021 Hamilton’s 116-word statement should be an example to all other insurers of what an ESG (environment, social, governance) policy should NOT look like. Since mid 2020, 28 Lloyd’s of London insurers have answered the call of the #StopAdani campaign...
Case for cutting financial ties with Adani Group presented at webinar
21 September 2021 Last week Responsible Investor, in partnership with Market Forces, hosted a webinar entitled Adani Group’s new coal projects: why and how investors need to act. Hundreds of employees of financial institutions, based mainly in Europe and the US east...
Coal miner insurance mutual a desperate and dangerous attempt to prolong coal
13 August, 2021, for immediate release Market Forces has responded to today’s news of coal mining companies seeking to establish a new mutual fund to insure Australian coal mining operations by calling on reinsurers, insurance brokers, and governments to refuse to...
Adani is doubling down on coal, investors and bond arrangers must act
30 July 2021 In mid-July Adani Electricity Mumbai issued US$300m worth of “sustainability-linked” bonds - a form of general corporate finance which carry no obligation to be directed towards sustainable projects and can be issued by any company willing to report on...
Adani’s dishonest attempt to cool coal-to-plastics controversy debunked
26 July 2021 Recently, the news of Adani’s next toxic venture - a coal-to-PVC plant - broke in the media. According to Adani’s own submission to the Indian Government, the plant will use 3.1 million tonnes of coal per year to make PVC plastic with the coal...
Are Deutsche Bank, Barclays, JP Morgan and Standard Chartered about to fund coal miner Adani Enterprises?
13 July 2021 Media reports from last week have named Deutsche Bank, JP Morgan, Standard Chartered and Barclays as the banks in discussion with Adani to provide US$1 billion to Adani Airport Holdings Ltd to refinance its debt. Adani Airport Holdings is owned by Adani...
Adani wants children to solve global warming while it makes things worse
12 July 2021 Today, Market Forces has published a compilation of Adani Group’s many massive fossil fuel expansion plans. See it here. These plans include: Doubling its coal-fired power capacity by 12 gigawatts (GW) to 24 GW, giving it more coal power capacity than all...
Hamilton Insurance one of the last at Lloyd’s willing to insure the Adani Carmichael coal project.
6 July 2021 Adani’s insurance options in the Lloyd’s marketplace are rapidly shrinking. Since the beginning of the year, all the top 10 biggest Lloyd’s syndicates have ruled out any support for the Adani Carmichael coal project. In total, 38 major insurance companies...