5 October 2021 Hamilton’s 116-word statement should be an example to all other insurers of what an ESG (environment, social, governance) policy should NOT look like. Since mid 2020, 28 Lloyd’s of London insurers have answered the call of the #StopAdani campaign and ruled out insuring the disastrous Adani Carmichael thermal … 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
Deutsche Bank, JP Morgan and Standard Chartered break promise and loan US$1 billion to Adani coal miner
19 August 2021 Financial news sources have confirmed that JP Morgan, Standard Chartered and Deutsche Bank all participated in a massive US$1 billion loan to Adani Enterprises, the Adani Group company building the climate-wrecking Carmichael thermal coal project in Australia. The transaction was completed on 21 July. The money went … Read More
Are Deutsche Bank, Barclays, JP Morgan and Standard Chartered about to fund coal miner Adani Enterprises?
13 July 2021 Media reports from last week have named Deutsche Bank, JP Morgan, Standard Chartered and Barclays as the banks in discussion with Adani to provide US$1 billion to Adani Airport Holdings Ltd to refinance its debt. Adani Airport Holdings is owned by Adani Enterprises, the same Adani Group … Read More
MS Amlin; the only top 5 Lloyd’s insurer yet to rule out the Adani Carmichael coal project.
25 March 2021 In late 2019, after being denied insurance by mainstream insurance companies, Adani was able to secure coverage for the Carmichael coal project via insurers at Lloyd’s of London. However, while it’s true that Adani Carmichael seems to have managed to scrape together sufficient insurance so far, its options … Read More
Hiscox the latest insurer to rule out Adani Carmichael coal project.
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
Investor Briefing: Adani Ports to haul Carmichael coal, exposing investors to reputational & financial risks
22 October 2020 Market Forces has compiled this briefing paper to inform existing and potential investors in Adani Ports and Special Economic Zone (Adani Ports) of the company’s establishment of Bowen Rail Company, which will transport coal for the controversial Carmichael thermal coal project in Australia. This move into coal … Read More
Marsh and Mercer ignoring staff wishes by continuing Adani coal work
27 April 2020 Insurance broker Marsh has been working with the conglomerate Adani for several years, most recently searching the globe for insurance companies willing to cover the Adani Carmichael coal project construction and operation. With 16 major insurers refusing to insure the massive new thermal coal project, the going … Read More
Rockwell Automation 64th company to rule out Adani
17 February 2020 US-based multinational Rockwell Automation has become the 64th major company to rule out work on the climate-wrecking Adani Carmichael coal project. In response to a letter from the Stop Adani Alliance sent on 13 February, Rockwell CEO Blake Moret wrote: Rockwell Automation is not working with Adani … Read More
GHD’s announcement doesn’t go far enough
On 16 December 2019, global engineering firm and Adani’s longest-serving contractor GHD updated a statement on its website revealing it has no ongoing contractual obligations on the climate-busting Carmichael coal mine project. This is a welcome and important first step but disappointingly doesn’t go far enough. After 10 years of … Read More