Hi everyone. This is a pretty special moment for me, but also for Market Forces, our team and supporters, and all those who have taken action to shift finance and investment away from fossil fuels. Today I have been given the honour of receiving a Goldman Environmental Prize. This is … 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
Deutsche Bank staff survey 2022
21 March 2022 Thank-you for taking the time to fill out this survey. Its purpose is to understand the views of Deutsche Bank employees regarding the bank’s reported decision to arrange finance for Whitehaven Coal, one of Australia’s most controversial coal mining companies. The survey is anonymous and takes about … Read More
Send some Christmas cheer to Deutsche Bank’s CEO!
7 December 2021 ‘Tis the season to be jolly… unless, like Deutsche Bank, you’re arranging funds for climate-wrecking coal companies. That’s why this Christmas we’re going to flood Deutsche Bank’s CEO with Christmas cards, to remind him that working with Whitehaven Coal will put Deutsche Bank on Santa’s naughty list. So … 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
Deutsche Bank’s involvement with Whitehaven Coal exposed in German media
23 October 2021 On Friday morning, executives at Deutsche Bank awoke to a half-page advertisement on page 7 of Handelsblatt, a major newspaper popular in Germany’s financial world. The ad, coordinated by Market Forces, exposes Deutsche Bank for reportedly preparing to arrange finance for climate-wrecking coal company Whitehaven Coal. To … Read More
Deutsche Bank prepares to raise funds for Whitehaven
1 October 2021 Financial news source Debtwire reported last week that Deutsche Bank is preparing to raise funds for Whitehaven Coal’s climate-wrecking coal business. Specifically, Debtwire reports that Deutsche Bank organised a “non-deal roadshow” event this week, and intends to act as a bookrunner for any bond issue that emerges … 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
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