Korean lenders rule out Adani!

5 November 2018 Three Korean financial institutions have ruled out investing in the Adani Carmichael coal mine, rail line or Abbot Point coal export terminal, as confirmed in emails to the Wangan and Jagalingou (W&J) Traditional Owners Council. The W&J traditional owners are visiting Korea this week, supported by Market … Read More

Adani’s new plan, November 2018 update

5 November 2018 The next six months will be critical for whether Adani’s destructive mega coal mine goes ahead. Thanks to some cost-cutting, on both its proposed railway line and the mine itself, Adani’s Carmichael project is now a far cheaper, and therefore more bankable, proposition. A smaller initial phase … Read More

Downer board can’t face up to climate questions

1 November 2018 Downer’s board of directors faced questions at today’s annual general meeting about their climate change views and the company’s stance on Australia’s emissions targets. Downer Holdings Company Ltd, as it is listed on the Australian stock exchange, has a diverse business portfolio that includes power, oil and … Read More

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: 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

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

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