Has Lockton put ethics aside to back Adani’s disastrous coal mine?

Adani Carmichael November 2021

23 June 2022 Two weeks ago, the #StopAdani campaign received a tip-off that on 29 May 2022, Lockton, a US-based insurance broker, was appointed to arrange insurance coverage for Adani’s climate-wrecking Carmichael coal mine and rail line. Market Forces followed up with a letter to Lockton putting this information to … Read More

Help GLAS make time to Stop Adani

10 May 2022 There are now 112 major companies that have ruled out providing any support to the climate-wrecking Adani Carmichael coal project. However, debt administration services provider GLAS is not one of them. With Adani’s Australian coal port, NQXT, currently looking to raise hundreds of millions of dollars in … Read More

Adani planning to self-fund coal port debt refinancing

22 March 2022 According to a note published on 14 March, Adani has indicated to the Moody’s ratings agency that it is failing to find an external source to refinance the US$500m of bonds maturing in December of this year, issued by its coal port North Queensland Export Terminal (or … Read More

Win! Credit Suisse rules out Whitehaven Coal

The monstrous Maules Creek coal mine, destroying swathes of the Leard State Forest, NSW. Image courtesy of the Lock the Gate Alliance

Climate-wrecking coal company Whitehaven Coal received a $1 billion loan in February 2020 from a group of major banks, including European investment bank Credit Suisse. Late last year, Credit Suisse updated its policy on thermal coal mining, clearly excluding Whitehaven from any further funding. This makes Credit Suisse the first … Read More

Will GLAS shatter its reputation on Adani’s coal port?

In November 2021, after a short and sharp public backlash, the Bank of New York Mellon (BNYM) became the 104th company to cut ties with Adani’s disastrous Carmichael coal project. For many years, BNYM was playing a specialised role as the security trustee for the debt linked to Adani’s coal … Read More