25 March 2021 In late 2019, after being denied insurance by mainstream insurance companies, Adani was able to secure coverage for the Carmichael coal project via insurers at Lloyd’s of London. However, while it’s true that Adani Carmichael seems to have managed to...
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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...
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...
Coal and coup; urgent review of Adani’s inclusion on Dow Jones Sustainability Index demanded
18 March 2021 UPDATE: (19/03/21) Market Forces has received confirmation that S&P Global will conduct a review into Adani Ports' status in its Dow Jones Sustainability Index. We call on S&P to take the evidence we have presented seriously and to ensure that...
HSBC bows to pressure and will phase out coal lending. It must also cut ties with Adani
16 March 2021 In response to a shareholder resolution coordinated by ShareAction, HSBC, Europe's largest bank and one of the biggest backers of fossil fuels, has announced it will table its own resolution on plans to phase out financing for coal-fired power and...
Hiscox the latest insurer to rule out Adani Carmichael coal project.
4 March 2021 Last night, after announcing a new environment/social/governance (ESG) exclusion policy that rules out underwriting and investing in thermal coal, Arctic oil and gas exploration and tar sands, major insurance company Hiscox told Market Forces that they...
Adani loses another major piece in its insurance puzzle.
25 February 2021 Another Lloyd’s insurer that is currently providing cover for the Adani Carmichael project has committed to not renewing or taking on any new policies with the destructive coal project. In a victory for the #StopAdani movement, Brit, one of Lloyd’s...
QBE kicks climate can down the road & keeps supporting oil and gas expansions despite massive loss
19 February 2021 Together with the announcement of a massive A$2b loss due in part to ever-worsening extreme weather, fuelled by the burning of oil and gas, QBE’s updated Environmental and Social Risk Framework, released today, includes oil and gas targets which...
Siemens failing credibility test as Adani under investigation for more enviro conditions breaches
12 February 2020 At its AGM last year, while under fire from major investors like Union Investment and Blackrock, (now former) Siemens CEO Joe Kaeser tried to justify its reputation-destroying work for the Adani Carmichael coal project by saying that Siemens had:...
Dirty money – political donations from the fossil fuel industry
1 February 2021 Prime Minister Scott Morrison was denied a speaking slot at the UN’s 2020 Climate Ambition Summit, and for good reason: Australia’s climate policy is one of the worst, and the rest of the world knows it. Far from being a wake-up call, just weeks ago...