Adani’s plans to dig up hundreds of millions of tonnes of dirty Galilee Basin coal are gargantuan, requiring input from many project partners. And every company that helps this nightmare become a reality would be partly responsible for the environmental and climate destruction the Carmichael project stands to inflict.

Companies already working with Adani are listed below. Hover over or tap on the company logos to learn how each is connected, and click to take action. Further down the page is a more comprehensive list of companies that may be involved, broken down by sector. Our page looking specifically at the insurance sector is here.


These companies have known links with Adani and/or the Carmichael project. Hover over or tap on the company logos to learn how they are connected, and click to take action.

There are company-specific actions for AMP and State Bank of India, while the other high risk companies can all be emailed from the one form below.

Finance / Insurance
AMP logo scribbled
FIIG logo scribble
Marsh logo scribbleGrant Samuel Funds Management logo
EAC Partners logo scribble
Engineering and construction
BG&E logo
Aurizon logo
Arrium mining and materials logo scribbleCalibre logo scribbleWagners
Go West logo scribbledGHD logo


These companies have either ruled out involvement or distanced themselves from all or part of the Adani Carmichael project.

CompanySectorWhat they have said
AECOMEngineering"Our people have demobilised. We’ve handed over our [railway] design to the client [Adani]. It’s up to them what happens after this." News reports in September 2018 revealed AECOM was trying to recover almost $17 million owed by Adani.
AllianzInsurance"Allianz no longer offers single-site/stand-alone insurance coverages related to the construction and/or operation of lignite/coal-fired power plants (CFPP) and mines where lignite/coal is extracted, effective immediately. Sngle-site/stand-alone coverage means the covering of loss and damages for a single power plant and/or mine (green- and brownfield) for an insured, as well as for offering guarantees (bonds) to a respective client. The exclusion is applicable for new (first time) contracts and the renewal of contracts."
ANZFinance"[ANZ's exposure to coalmining] is pretty small and trending down and I can’t see a time where we’d suddenly see that trend shift, to be honest”
- Shayne Elliott, CEO
AureconEngineering and Construction"Aurecon will cease work for the Adani-leased Abbot Point export terminal following the completion of its current phase of work and will transition its people to partner with other clients over the next six to nine months," the spokeswoman said.

"As part of this decision the firm has also ruled out working on any other Adani group of companies' projects."
AXA*Insurance"As a global insurer, AXA will no longer cover certain risks as follows:
• The development of new coal capacity is banned by ending Construction covers for any new coal plant and new coal mine, whichever the region or client."

"Regarding the Carmichael mine, we confirm that:

- We do not currently cover the Carmichael mine’s assets, neither directly nor through packages, and we do not intend to do so in the future;
- We currently have a multi-year policy to partly cover the railway asset which will lapse in 2020 and which we shall not renew;
- Adani is a banned investment both for our equity and fixed income holdings."
AXIS CapitalInsurance"AXIS will not provide new insurance or facultative reinsurance for the construction of new thermal coal plants or mines and their dedicated infrastructure"
Bank of ChinaFinance"[Bank of China] has not, and does not intend to, provide funding for the Adani Carmichael Mine project"
BarclaysFinance"Barclays has no plans to participate in financing the Abbot Point development or its associated mine/rail infrastructure"
BNP ParibasFinance"BNP Paribas do not intend to be involved in the financing of the development of coal mines projects in the Galilee Basin in Australia, nor of related dedicated infrastructure projects"
CanopiusInsurance“Canopius is not involved in any negotiations to provide insurance coverage for the Adani mine project.”
CardnoEngineering"Adani has been very controversial, not only with people outside the company, it's been controversial with staff as well as other customers of the company.

"As a company we have decided that we will not do any further work on Adani.."
China Construction BankFinance"China Construction Bank is not involved with, nor considering involvement with, the Adani Carmichael Mine project... nor will they be considering involvement in the future.“
China Merchants BanksFinance“China Merchants Bank is not, and does not intend to be involved in the Adani Carmichael Mine project.”
CitibankFinance"Citi is not involved and does not plan to be involved in any financing for the Abbot Point expansion"
CommerzbankFinance“Commerzbank does not finance projects for new coal mines.”
Commonwealth Bank of AustraliaFinance"We are not amongst the banks who have been, or will be, asked to consider this financing"
Credit AgricoleFinance"Due to the number and magnitude of issued linked to the planned coal development projects in the Galilee Basin, Credit Agricole SA does not intend to finance these projects or their associated facilities"
Credit SuisseFinance“Credit Suisse will not provide any form of financing that is specifically related to the development of a new greenfield thermal coal mine, or where the majority of the use of proceeds is intended for a new greenfield thermal coal mine.”
Dai Ichi LifeFinance“Two leading banks in Japan — Nippon Life and Dai Ichi Life — refused to fund the [Adani Carmichael] project.”
DBSFinance"...the bank will also cease all project financing of greenfield thermal coal mines."
Deutsche BankFinance“We are currently not involved with this project and will also not be involved with it in the future”
Downer EDIMining"Adani and Downer have mutually agreed to cancel all Letters of Award relating to the mine services and the related infrastructure."
ETS (Eastern Tree Services)Vegetation management"...ETS can confirm we will not undertake work for Adani relating to the proposed Carmichael mine, including the mine site, water facilities, rail corridor or expansion of the port."
FM GlobalInsurance“FM Global is not involved, nor intends to become involved, with Adani’s Carmichael Coal Mine/Rail Project.”
GeneraliInsurance"Define our positioning in coal-related activities:
Exclusion of any new investment in businesses associated with the coal sector and gradual divestment of the €2 billion exposure on coal-related assets, with the disposal of equity assets by April 2019
Commitment not to increase the minimal insurance exposure to coal-related activities
Commitment not to insure any new coal-related customer and any new coal construction project (mines and plants) with immediate effect"
Genesee and Wyoming AustraliaRail freight“Genesee & Wyoming Australia (GWA)...[has] previously been approached to service the Adani Carmichael project and decided not to participate.”
Goldman SachsFinance"Specific to Abbot Point, we will not finance any project or initiate loans where the specified use of proceeds would significantly convert or degrade a critical natural habitat"
Hannover ReInsurance"...on the underwriting side, as a general principle, the company will not be providing reinsurance coverage for any planned new coal-fired power plants or coal mines."
HDI Global (Talanx Group)Insurance"...Talanx Group will in principle no longer write any risks associated with planned new coal-fired power plants and coal mines."
HSBCFinance"[HSBC] is extraordinarily unlikely to go anywhere near [Abbot Point]"
"HSBC will no longer support new thermal coal mines"
Industrial and Commercial Bank of China Finance“ICBC has not been, and does not intend to be, engaged in arranging financing for this project.”
INGFinance"ING will not provide financial services that directly refer to... new thermal coal mining"
JPMorgan ChaseFinance"We will not finance... a new greenfield coal mine or a new coal-fired power plant in a high income OECD country"
"We do not finance natural resource projects within UNESCO World Heritage Sites unless... such operations will not adversely affect the Outstanding Universal Value of the site”
KBCFinance“KBC [has stopped] financing new, coal-fired electricity generation, including coal mining.”
KIAMCOFinance"We deeply conform the responsibility of financial investors and have well understood the importance and concerns for the development of the Carmichael mine on the W&J’s ancestral lands. We, KDB Infrastructure Asset Management Co. Ltd., hereby confirm that we have no intention to participate by all means, financial or other support or services, in the development of the Carmichael mine."
Korea Development BankFinance"Regarding the development and building of the Carmichael Coal Mine, Rail and Port Project in Australia proposed by Adani Mining Pty Ltd (“Project”), ... we are no longer reviewing it. We wish to express that we have no intent to provide finance for the Project."
Korea Export Import BankFinance"Please be assured that Korea Eximbank does not have any intent to provide financial support to the Carmichael project, which includes the development of mine, rail and the port of Abbot point."
Liberty MutualInsurance"Per your enquiry to our company, I want to advise you that in January [2019] Liberty Mutual informed the appropriate parties that we will not be participating in the insurance program for the anticipated operational phase of the Carmichael mining project."
MAPFREInsurance"MAPFRE will...cease to insure the construction of new coal-fired electricity plants or coal mines."
Mirae Asset DaewooFinance"We have no intention to be involved in either any financing activities of Carmichael mine development or Abbot Point equity sale activities."
Morgan StanleyFinance"Morgan Stanley will not lend to or invest in the expansion of Abbot Point"
National Pension Service (Korea)FinanceAsked: "Whether the National Pension Service has invested in any kind of equity, extended any kind of loan, purchased or transacted any kind of securities relating to the Australia Queensland Carmichael Mine, Abbot Point Port and rail project relating to the mine and port which is under development by Adani, or whether it has reviewed such type of financing?"
Response: "none"
Munich ReInsuranceMunich Re plans to stop offering insurance for new coal-fired power plants and mines in industrialised countries.
NABFinance"NAB is not involved and has no plans to be involved in any financing for the Carmichael coal mine"
NatixisFinance"Natixis has committed itself to end its financing of coal-fired power plants and thermal coal mines worldwide. Natixis has also decided to no longer accept new advisory or arrangement mandates linked to financings of this type."
Nippon LifeFinance“Two leading banks in Japan — Nippon Life and Dai Ichi Life — refused to fund the [Adani Carmichael] project.”
NRW HoldingsCivil / Mining[Regarding commercial dispute over previous project]: "Clearly, we wouldn’t be taking those sort of risks in the future... An example of that might be an Adani."
QBEInsurance"We do not provide insurance services to the proposed Carmichael mine and rail construction project and we do not intend to do so in the future."
RabobankFinance"We will not directly finance the exploration, extraction or production of coal used for power generation"
Royal Bank of ScotlandFinance“RBS is not involved in the Abbot Point expansion project and has no plans to be involved in the future”
SantanderFinanceProhibited activities: Any new thermal coal mine projects worldwide
SCOR*InsuranceSCOR will no longer “issue insurance or facultative reinsurance that would specifically encourage new greenfield thermal coal mines"

"Our Group can confirm that SCOR, through its Large Risk Underwriting unit (Business Solutions), is neither involved nor intends to be involved in the procurement of any kind of re/insurance coverage of the Adani investment known as Carmichael project, including the rail line project."
SEBFinance“SEB will not enter into new business relations with companies
with major business in coal mining”
Societe GeneraleFinance"Societe Generale is not currently involved, and does not plan to be involved in the coal mine and infrastructure projects associated with the Galilee Basin in Australia" (Translated)
Standard CharteredFinance"Both parties [Standard Chartered and Adani] have agreed to end the bank's role in the Carmichael project"
"We will not provide project finance or project finance advisory services to new standalone, non captive thermal coal mining projects"
SuncorpInsurance"We confirm we do not have financing, investment or underwriting exposure to Adani or coal mining projects in the Galilee Basin, nor do we intend to in the future."
Swiss ReInsuranceSwiss Re's group-wide coal policy prohibits providing re/insurance for thermal coal mines, coal-fired power stations or any company that is more than 30% exposed to thermal coal.
US BancorpFinance“[US Bancorp] does not provide project financing… for the development of new coal mines.“
WestpacFinance“We will limit lending to any new thermal coal mines or projects (including those of existing customers) to only existing coal producing basins and where the calorific value for that mine ranks in at least the top 15% globally"
ZurichInsurance"Zurich intends to stop providing insurance or risk management services for new thermal coal mines or for potential new clients that derive more than half their revenue from mining thermal coal, and also for utility companies that generate more than half of their energy from coal."

* We don’t know if these companies have ever insured coal projects in Australia previously


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