Aurizon doesn’t want to become ‘public enemy number one’

18 October 2018 Aurizon’s relationship with Indian coal mining giant Adani dominated question time at its annual general meeting in Brisbane today. Last month, Adani proposed a shorter rail line that would link its proposed Carmichael mega mine in the Galilee Basin to Aurizon’s existing Central Queensland Coal Network. “Would … Read More

Adani accused of not paying contractors

17 September 2018 The Australian Financial Review reports today that two companies, AECOM and Jangga Operations, are claiming they are owed money by Adani for work the companies did on the Carmichael coal project. Engineering and design group Aecom is trying to recover almost $17 million it alleges it is … Read More

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

In a television interview overnight, the son of Gautam Adani, Karan, claimed that financial close had been reached for the Carmichael coal mine. We need to treat this information carefully. On one hand, it was part of an interview containing several other inaccuracies about the status of the Carmichael mine’s … 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. While … 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

Embattled AMP stands firm over new climate denier chairman

10 May 2018 Acting AMP chief executive Mike Wilkins today dismissed deep concern over incoming chairman David Murray’s controversial views on climate change at the financial services company’s annual general meeting (AGM) in Melbourne.  Wilkins affirmed his backing for Murray, an outspoken climate sceptic, during a fiery question-time session in which furious shareholders grilled the board over revelations of … Read More

QBE faces massive shareholder pressure at AGM

Australia’s biggest insurer and fossil fuel underwriter QBE Insurance admits it needs to manage climate change risks much better but rejects shareholder vote for action. 3 May 2018 Today a shareholder resolution calling on QBE to disclose the risks to its business from climate change was backed by 18.6% of … Read More

EFIC supporting Adani Carmichael

Adani has failed to attract private finance to its proposed Carmichael mine and rail project and is becoming increasingly reliant on public funding to proceed. The company has already attempted to use the Northern Australia Infrastructure Facility to secure a publicly-funded loan – this was vetoed by the Queensland Government … Read More