4 March 2021 Last night, after announcing a new environment/social/governance (ESG) exclusion policy that rules out underwriting and investing in thermal coal, Arctic oil and gas exploration and tar sands, major insurance company Hiscox told Market Forces that they “have no interest in coal mines like Adani’s and this [ESG] … Read More
Siemens failing credibility test as Adani under investigation for more enviro conditions breaches
12 February 2020 At its AGM last year, while under fire from major investors like Union Investment and Blackrock, (now former) Siemens CEO Joe Kaeser tried to justify its reputation-destroying work for the Adani Carmichael coal project by saying that Siemens had: “secured the right to pull out of the … Read More
Despite record hurricane season, Bermuda’s insurers still backing coal
7 December 2020 2020’s Atlantic hurricane season has been by far the worst ever recorded. On November 10, Theta became the 29th named storm, surpassing the record from 2005, with three weeks of the official hurricane season still to go. Scientists say the links between worsening storm seasons, elevated ocean … Read More
Adani loses another insurer as Lloyd’s market feels the pressure
29 October 2020 UPDATE: Lancashire and Ascot have both ruled insurance for the Adani Carmichael project Another Lloyd’s insurer that is providing cover for the Adani Carmichael project has committed to not renewing or taking on any new policies with the destructive coal project. Apollo Underwriters is the latest Lloyd’s … Read More
Adani rebrands Abbot Point coal port to Nth Qld Export Terminal
9 October 2020 Yesterday Adani formalised the rebranding of its coal port from Adani Abbot Point Terminal to North Queensland Export Terminal (NQXT). In paperwork submitted to the corporate regulator ASIC, six companies through which Adani holds and finances the port will have their names changed with all references to … Read More
Deutsche Bank, Standard Chartered, Barclays and JP Morgan helping Adani Ports raise billions
10 July 2020 Banks that have pledged to not finance the Adani Carmichael coal project could be unintentionally helping to do just that. Media reports this week reveal that Adani Ports and Special Economic Zone (APSEZ), the owner of several ports in India, is aiming to raise US$1.25 billion in … Read More
GHD staff want company out of coal expansions
1 November 2019 A survey of engineering firm GHD employees shows that three out of five staff members want the company to end its work on coal expansions such as the Adani Carmichael project. The survey, which has been distributed over a number of months via LinkedIn and leafletting outside … Read More
Worley rules out Adani, but fossil fuels still on the agenda
21 October 2019 After years of pressure, Worley has finally confirmed it “has no intention” of working on the Adani Carmichael coal mine project. Engineering firm Worley was previously engaged to provide the design and construction of Adani’s original railway plan to haul coal from the Carmichael mine to the … Read More
Adani’s engineers GHD stay silent on coal mine work
15 July 2019 The engineering consultancy managing the design of Adani’s Carmichael coal mine is refusing to comment publicly or meet with #StopAdani alliance groups, as protests grow over its involvement in the disastrous project. Australia-based multinational GHD has a history of working with Adani on Carmichael. It developed the … Read More
Adani still vulnerable on insurance for its Carmichael mine and railway
28 June 2019 Like the stampede that saw almost 40 major banks turn their backs on Adani’s Carmichael coal mine and rail project (eventually forcing Adani to pledge it will “self-fund”), major insurance companies are now also refusing to insure this climate-wrecking project. All major projects require underwriting insurance, for … Read More