21 July 2021 Australian coal company New Hope has a track-record of dodging questions about the material financial risks to its business from climate change. That’s why this week EDO Australia, on behalf of Market Forces, wrote to the Australian Securities and...
Blog
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...
Adani Ports attempts to save brand by dumping Bowen Rail Company
2 July 2021 Adani Ports and Special Economic Zone (Adani Ports) has announced in its latest Annual Report (page 129) that after setting up the haulage operation for the controversial Carmichael coal project under the Bowen Rail Company (BRC), it is transferring the...
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,...
Adani gets a lump of coal, loses three investors
25 June 2021 Adani Group celebrates its undermining of the Paris Agreement on climate change, while three more investors reject its destructive activities. The hypocrisy of the Adani Group was on full display this week, and nowhere was it more stark than big boss...
Coal affair sinks Mark Vaile’s uni application
23 June 2021 Thanks to an enormous backlash from students, staff, alumni, donors and the NTEU, former Deputy Prime Minister and chairman of Whitehaven Coal Mark Vaile decided to walk away from his appointment as the next chancellor of Newcastle University [1]. Vaile’s...
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...
Woah big spender! New Hope splashes out promoting climate-wrecking coal
11 June 2021 Data released last month shows that coal company New Hope splurged over $650,000 on the 2020 Queensland election, ranking fourth on a ‘big spenders’ list headed by Clive Palmer’s Mineralogy Pty Ltd [1]. The bulk of the company’s expenditure was on...