19 August 2021 Financial news sources have confirmed that JP Morgan, Standard Chartered and Deutsche Bank all participated in a massive US$1 billion loan to Adani Enterprises, the Adani Group company building the climate-wrecking Carmichael thermal coal project in...
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BHP lets Woodside go all in on climate destruction
18 August 2021 Woodside yesterday announced its plan to acquire BHP's global portfolio of oil and gas assets, which would roughly double the company's fossil fuel production capacity. In payment, Woodside will issue new shares amounting to 48% of the combined...
State Bank of India still considering loan to “fully funded” Adani coal project
5 August 2021 In November 2020, Indian media reported that the State Bank of India (SBI) was considering a A$1 billion loan for Adani’s Carmichael thermal coal project. People all over the world took immediate action, leading to international news headlines and a...
Adani is doubling down on coal, investors and bond arrangers must act
30 July 2021 In mid-July Adani Electricity Mumbai issued US$300m worth of “sustainability-linked” bonds - a form of general corporate finance which carry no obligation to be directed towards sustainable projects and can be issued by any company willing to report on...
Macquarie fails to rule out funding fossil fuel projects incompatible with net zero
29 July 2021 Major Australian financial institution Macquarie was today challenged by shareholders and communities over its support for the oil and gas industry, and inconsistencies between this support and its commitment to net zero emissions by 2050. Just weeks...
Adani’s dishonest attempt to cool coal-to-plastics controversy debunked
26 July 2021 Recently, the news of Adani’s next toxic venture - a coal-to-PVC plant - broke in the media. According to Adani’s own submission to the Indian Government, the plant will use 3.1 million tonnes of coal per year to make PVC plastic with the coal...
ASIC investigation requested into New Hope statements
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...
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...