Adani: No customers, no finance, but still a threat

Yet some avenues remain open for Adani to find the money to build the mine and railway line. Here we take a look at where Adani is at right now and how it could still get the project off the ground. Hot off the press: summary on where Adani is … Read More

Adani scrapes the bottom of the barrel to refinance Abbot Point

Tuesday 3 July 2018 News broke today that after a year-long desperate search, Adani has finally succeeded in refinancing part of its Abbot Point coal port debt. Korean asset manager Mirae Asset Daewoo (MAD) bought A$330 million worth of debt, and intends to sell it on to Korean insurance companies. … Read More

Sundance Energy: still ignoring climate risks

04 June 2018 Sundance Energy Australia’s chairman was decidedly upbeat at the fracking firm’s annual general meeting (AGM) held last week in Adelaide on 31 May 2018. ‘This is exciting time for our shareholders,’ proclaimed Mike Hannell. “Strong economic growth and geopolitical risk in Middle East have, at least for … Read More

FAR directors change their opinion about climate risk

FAR, an Australian oil and gas exploration company that operates mainly in Senegal, finally accepted the importance of climate change as a business risk at their annual general meeting (AGM) today. This was in sharp contrast to last year’s AGM where the topic was not mentioned until question time, and … Read More

Macquarie commits to climate risk disclosure

In less than a year Macquarie has moved from not knowing what the Task Force on Climate-related Financial Disclosures (TCFD) was, to committing to adopt all of the Task Force’s recommendations. Yesterday Macquarie published this in its climate change report: “In the FY2019 reporting cycle we will continue to evolve … Read More

Sydney Airport – ‘still above water so we’re in good shape’

‘According to Coastal Risk Australia, sea level rise is expected to flood parts of the Sydney Airport runway. This flooding occurs even in the low scenario, where the expectation is that there would be a worldwide reduction in global emissions. What current modelling is our company using for this, and … Read More

Risks all round from Adani’s Abbot Point sale plans

23 May 2018. Adani’s plans to sell down their stake in the Abbot Point coal export terminal, with the assistance of investment bank Rothschild, are a win for the Carmichael mega mine project and a clear threat to the campaign to stop it, say environmental finance advocates Market Forces (“Adani looks … Read More