Investor updates

This page is updated regularly with the latest news about why Adani’s biggest investors must cut all ties with Adani.

Context

The Carmichael Coal Mine and Rail Project, and the related North Queensland Export Terminal (formerly the Adani Abbot Point Terminal), is one of the biggest greenfield coal expansions in the world. Adani Ports, Adani Enterprises, and Atulya Resources all have different ownership stakes in the Carmichael Coal Mine and Rail Project, and the related North Queensland Export Terminal.

Any company that invests in Adani Ports, Adani Enterprises, Atulya Resources, or directly invests in the Carmichael Coal Mine and Rail Project, or the related North Queensland Export Terminal, is supporting this huge greenfield coal expansion. BlackRock, MUFG, State Bank of India, JP Morgan Chase, and HSBC are some of Adani's biggest investors.

Demands

The #StopAdani movement's demands of Adani's biggest investors are that they:

  1. Use their influence as Adani's biggest investors to demand that Adani abandon the Carmichael Coal Mine and Rail Project,
  2. If Adani refuses to abandon the project, then commit publicly to cease and withdraw investments from Adani Ports, Adani Enterprises, Atulya Resources, the Carmichael Coal Mine and Rail Project, and the North Queensland Export Terminal.

Already Happening

Already investment giants PIMCO, Samsung, KLP, and Storebrand have committed to cease and withdraw investments from these Adani-owned entities. Deutsche Bank refused to arrange bonds for Adani Ports’ latest bond issue, reports citing "environmental concerns in conflict with the sustainability goals of the bank".

Key Updates

Violating Human Rights:

Coal and Climate Change:

 


Latest Updates

July 2021

April 2021

  • Adani Ports was removed from the Dow Jones Sustainability Index over its business ties to the Myanmar military.  In March a report by the Australian Centre for International Justice (ACIJ) and Justice For Myanmar (JFM) exposed Adani Ports’ deepening ties with the Myanmar military, despite the escalating human rights crisis in Myanmar after the military led a violent coup on 1 February toppling the democratically elected civilian government. Adani Ports has partnered with the Myanmar military-owned company Myanmar Economic Corporation (MEC) to build a port in Yangon, and paid the MEC tens of millions of dollars. Adani Ports ‘categorically denied’ engaging with Myanmar military leadership before photo and video evidence emerged of Adani Ports’ CEO Karan Adani meeting with sanctioned senior military general Min Aung Hlaing, an accused war criminal, and exchanging gifts.

    The UN Independent Fact-Finding Mission Report in 2019 warned investments in companies who partner with the Myanmar Economic Corporation can help finance the Myanmar military. Adani Ports investors and bond arrangers must immediately divest from Adani Ports or risk being complicit in grave human rights abuses.
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