Take Action: Adani Ports funding must not be shifted to Carmichael coal
In early July 2019 Adani issued bonds for one part of its business (Adani Ports and Special Economic Zone), which several major banks invested in. Unfortunately, the evidence shows that the Adani group of companies has regularly funded its expansion through inter-company investments and loans. Money raised in one part of the company is sometimes used to fund the expansion of a completely unrelated part.
This means that banks that have taken part in Adani’s most recent bond issue could easily find their money shifted across to fund the climate-wrecking Carmichael coal mine and rail line. Several of these banks previously pledged not to fund this destructive project!
Take action. Fill out the form below to contact the nine banks that coordinated this bond issue, demanding they provide concrete reassurances the money won’t be used in any way to build the Carmichael mine and rail line.
(The banks are: Barclays, Bank of America Merrill Lynch, Citigroup, DBS, Emirates NBD Capital, JP Morgan, Mizuho, MUFG and Standard Chartered.)