NAB and Westpac: Stop funding Whitehaven Coal!
15 September 2021 The federal Environment Minister has just signed-off approval for Whitehaven’s climate-wrecking Vickery coal mine. But Whitehaven still needs to find enough money to match the mine’s $600 million price-tag. Despite stating their support for the Paris Agreement, NAB and Westpac loaned a combined $220 million to Whitehaven … Read More
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 have now publicly ruled out providing insurance … Read More
Sustainalytics rates Adani Ports, a company mired in controversies, as “low risk”
1 July 2021 Global investors rely on their ability to manage and avoid risk, and increasingly that risk is being framed in terms of investment exposure to environment, social and governance (ESG) issues. Alongside an increasing appetite to invest in companies, projects and indices with high ESG values, is the … Read More
Adani loses 5th current insurer for its Carmichael coal project.
16 June 2021 In a victory for the #StopAdani movement and life on Earth, Ascot Group announced last week it has ruled out renewing its policy for the Adani Carmichael coal mine, once it expires in September this year.[1] This makes Ascot Adani’s 5th current insurer to rule out any … Read More
Adani’s coal port failing to refinance debt, again
7th May 2021 Ratings agency reporting has revealed that Adani’s Abbot Point coal port (recently rebranded to North Queensland Export Terminal – NQXT) has so far failed to secure external financing to repay a US$140 million debt due in September this year. Instead, the debt-ridden port, located in the Great … Read More
Major banks and pension funds dump Adani Ports amid rising controversy
20 April 2021 Adani Ports and Special Economic Zone (Adani Ports) was dealt a major blow last week when it was removed from S&P’s Dow Jones Sustainability Index after a case was presented to S&P showing Adani Ports’ links to the Myanmar military, thermal coal mining expansion and ecological destruction. … Read More
Adani Ports removed from Dow Jones Sustainability Index
13 April 2021 S&P Dow Jones has announced that it will remove Adani Ports and Special Economic Zone (Adani Ports) from its Sustainability Index in response to evidence presented to it by human rights and environmental groups in March. Market Forces, Australian Centre for International Justice and Justice for Myanmar … Read More
PIMCO bans Adani Ports investment, spreading Carmichael coal pain to key Adani company
23 March 2021 PIMCO, US-based investment giant which in 2020 was the biggest known boldholder in Adani Ports, has prohibited any future investment in the company and has confirmed that it did not invest in Adani Ports’ most recent bond issue in January. This is due to Adani Ports’ involvement … Read More
S&P is reviewing Adani Ports’ inclusion on coveted Dow Jones Sustainability Index
19 March 2021 Within hours of receiving a letter from 37 groups calling on S&P Global to review Adani Ports’ inclusion on its Dow Jones Sustainability Index (DJSI), the ratings agency giant has confirmed it will conduct a formal review. S&P wrote to Market Forces on 18 March with the … Read More