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Barclays and Standard Chartered support Adani coal

28 January 2021

28 January 2021

Adani Ports, the company developing essential coal haulage infrastructure for Adani’s Carmichael coal project, this week issued US$500 million in bonds to find more investors like Allianz/PIMCO and HSBC, which are already heavily invested in the company.

Barclays and Standard Chartered are in the list of bankers which arranged the deal.

Both of these banks have publicly committed to not support Adani’s controversial mega-mine (as outlined below). Despite these announcements and other commitments to limit thermal coal lending, in 2021 Barclays and Standard Chartered are kicking off the year by supporting a company that is helping to open up one of the world’s largest untapped coal reserves.

  • Barclays: “Barclays has no plans to participate in financing the Abbot Point development or its associated mine/rail infrastructure”
  • Standard and Chartered: “Both parties [Standard Chartered and Adani] have agreed to end the bank’s role in the Carmichael project” “We will not provide project finance or project finance advisory services to new standalone, non captive thermal coal mining projects”

Take action by telling these banks they are undermining global efforts to limit global warming.

You can find out more about Adani Ports’ bankers and investors, and take action here.

Take action

Tell these banks they must cut ties with Adani Ports.