08 September 2022 “Today climate change is one of the biggest challenges. Those challenges also open up huge business opportunities. The opportunity in this case is energy transition, the transition from fossil fuels to renewables and to hydrogen.” (Gautam Adani, quoted in Fortune India, June 2022) It’s statements like the … Read More
Lockton rejects Adani’s Carmichael coal mine
26 August 2022 Adani continues to face difficulties managing insurance coverage for its climate-wrecking Carmichael thermal coal project. Would-be insurance broker Lockton has revealed to Market Forces that it never signed the letter of appointment it was sent by Adani Australia, and that it will never work for the Carmichael … Read More
Legal advice says Deutsche Bank breaching own coal policy by financing companies building new coal mines
10 August 2022 As a lender to Whitehaven Coal and Adani Enterprises, both companies investing heavily in expanding thermal coal mining, Deutsche Bank has been a financial institution of concern for some time. However the bank’s 2020 policy on thermal coal mining, stating “we will not provide any financing for … Read More
World’s largest insurance broker cuts ties with Adani Carmichael coal mine
23 June 2022, for immediate release The Adani Carmichael coal mine’s long-standing insurance broker, Marsh, has confirmed it has ended its commercial relationship. This news, published in InsuranceERM, comes two weeks after the #StopAdani campaign received an anonymous, insider tip-off that on 29 May 2022, Lockton was appointed to be … Read More
Has Lockton put ethics aside to back Adani’s disastrous coal mine?
UPDATE 26 August 2022 Lockton has confirmed to Market Forces that it is not and will not broker insurance for Adani’s Carmichael thermal coal project. Find out more here. 23 June 2022 Two weeks ago, the #StopAdani campaign received a tip-off that on 29 May 2022, Lockton, a US-based insurance … Read More
Market Forces founder Julien Vincent receives Goldman Environmental Prize
Hi everyone. This is a pretty special moment for me, but also for Market Forces, our team and supporters, and all those who have taken action to shift finance and investment away from fossil fuels. Today I have been given the honour of receiving a Goldman Environmental Prize. This is … Read More
Revealed: HESTA and other super funds investing in Adani coal mining subsidiary
23 May 2022 New regulations coming into effect last month require superannuation funds to disclose all of their holdings. With this data now available to the public, Market Forces checked the exposure of super funds to the two Adani Group subsidiaries directly involved in the climate-wrecking Adani Carmichael thermal coal … Read More
Standard Chartered and Barclays fund Adani’s coal mining subsidiary
19 May 2022 Financial new sources confirmed last week that Standard Chartered and Barclays have funded Adani Enterprises, the Adani Group subsidiary pursuing several new thermal coal mining projects, including the disastrous Carmichael mine in Australia. The US $250m debt facility provided by the two UK banks has an option … Read More
Vanguard’s farcical engagement with coal miners Adani, Whitehaven and New Hope exposed
12 May 2022 Global investment management firm Vanguard recently released its 2021 Investment Stewardship Report, where it discusses the supposed impact of its engagement with the companies in which it invests. Vanguard provides case studies on the Adani Group (p 36) and Australian thermal coal miners Whitehaven Coal and New … Read More
Help GLAS make time to Stop Adani
10 May 2022 There are now 112 major companies that have ruled out providing any support to the climate-wrecking Adani Carmichael coal project. However, debt administration services provider GLAS is not one of them. With Adani’s Australian coal port, NQXT, currently looking to raise hundreds of millions of dollars in … Read More