8th January 2021 Reports indicate that the State Bank of India (SBI) is issuing a US$600 million bond next week, with HSBC, Citi, JP Morgan and Standard Chartered listed as managers leading the deal. SBI may be about to lend AU$1billion to the Carmichael coal project, which means these banks … Read More
Backlash to State Bank of India’s potential Adani coal loan spreads through finance sector
22 December 2020 The State Bank of India (SBI) is facing a growing backlash from finance sector firms, after news broke last month that it is seriously considering a A$1 billion loan to the controversial and destructive Adani Carmichael coal project. SBI’s potential support for a new thermal coal mine … Read More
State Bank of India staff reject its proposed loan to Adani coal
17 December 2020 Over 90% of respondents to Market Forces’ State Bank of India (SBI) staff survey would oppose the public bank’s lending of A$1 billion to Adani’s Australian mega-mine. This puts SBI’s management on a collision course with its employees if it ends up supporting Adani’s climate-wrecking Carmichael thermal … Read More
HSBC can help stop the State Bank of India from funding the Adani Carmichael coal mine. But will it?
9 December 2020 Since reports surfaced that the State Bank of India (SBI) is considering lending almost A$1billion to Adani’s Carmichael mega-mine, backlash against the loan has spread through the finance sector. Blackrock, the world’s largest asset manager, and Norwegian investor Storebrand joined European giant Amundi in the call for … Read More
Adani breaches environmental conditions again as SBI investors speak out against loan to the reckless project
4 December 2020 Adani Mining has been fined by the Australian Government for breaching environmental conditions in October, while building its coal mine in important wildlife habitat in central Queensland. This is yet another example of Adani’s disregard for environmental protection and provides another signal to the State Bank of … Read More
Adani Mining accidentally reveals true identity in monumental PR fail
November 6 2020 Yesterday, under the cover of the US Presidential Election, Adani Mining announced via coal-friendly media outlets that it was rebranding to “Bravus Mining and Resources”. However, this quiet name change soon turned into a public relations disaster when the real meaning of bravus was revealed by Latin … Read More
Soul Patts shuts down AGM rather than answer questions on coal and climate change
6 December 2019 Washington H Soul Pattinson went to extraordinary lengths to avoid questions on coal and climate change at its annual general meeting today, pushing all questions to the end of the meeting before shutting the entire AGM down after just a few questions. It’s no surprise that climate … Read More
Media release: Commbank out of thermal coal by 2030
New fossil fuel projects must prove carbon compliance Wednesday 7 August 2019 In today’s commitment, made in the bank’s new Environmental and Social Framework, to exit thermal coal by 2030, Commonwealth Bank has issued a stark warning to industry and policy-makers that coal has no place in Australia’s future. Commonwealth … Read More
