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

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

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

SBI’s investors must stop bank from throwing money away on Adani coal

25 November 2020 One week after Indian media reported the State Bank of India (SBI) is considering lending A$1 billion of Indian taxpayers’ money to Adani’s Carmichael coal project, Market Forces has received information that the decision will be made this week.  Considering the huge reputational and financial risks inherent … Read More