Shareholders demand clear transition for major Australian coal company 

MEDIA RELEASE   Wednesday 26 October: Market Forces and Whitehaven Coal shareholders are calling on the major Australian coal miner to demonstrate how it will wind down its production in line with global climate goals. More than 100 shareholders have joined Market Forces in recommending investors back a resolution at … Read More

Standard Chartered and Barclays fund Adani’s coal mining subsidiary

Stop Adani protest

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

Adani planning to self-fund coal port debt refinancing

22 March 2022 According to a note published on 14 March, Adani has indicated to the Moody’s ratings agency that it is failing to find an external source to refinance the US$500m of bonds maturing in December of this year, issued by its coal port North Queensland Export Terminal (or … Read More

Adani Ports kicked off MSCI indices due to Carmichael coal link

26 November 2021 Finance research and ratings company MSCI wrote to its clients on Tuesday informing them that Adani Ports and Special Economic Zone (Adani Ports, also referred to as APSEZ) is about to be kicked off four MSCI climate indices, after its links to the Carmichael thermal coal project … Read More

Case for cutting financial ties with Adani Group presented at webinar

21 September 2021 Last week Responsible Investor, in partnership with Market Forces, hosted a webinar entitled Adani Group’s new coal projects: why and how investors need to act. Hundreds of employees of financial institutions, based mainly in Europe and the US east coast were in attendance. Combined, the presentations from … Read More

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 certain “sustainable” key performance indicators (KPIs). These KPIs … Read More

Adani Ports attempts to save brand by dumping Bowen Rail Company

2 July 2021 Adani Ports and Special Economic Zone (Adani Ports) has announced in its latest Annual Report (page 129) that after setting up the haulage operation for the controversial Carmichael coal project under the Bowen Rail Company (BRC), it is transferring the ownership of BRC to another Adani subsidiary, … Read More

Adani gets a lump of coal, loses three investors

25 June 2021 Adani Group celebrates its undermining of the Paris Agreement on climate change, while three more investors reject its destructive activities. The hypocrisy of the Adani Group was on full display this week, and nowhere was it more stark than big boss Gautam Adani’s Twitter feed. Directly above … Read More

Major banks and pension funds dump Adani Ports amid rising controversy

20 April 2021 Adani Ports and Special Economic Zone (Adani Ports) was dealt a major blow last week when it was removed from S&P’s Dow Jones Sustainability Index after a case was presented to S&P showing Adani Ports’ links to the Myanmar military, thermal coal mining expansion and ecological destruction. … Read More