Thread by @stopadani

If #Adani are looking for some toxic assets to abandon there's this dirty Australian coal mine that investors universally revile...

Here's another thread of things going very badly for Adani's destructive, climate-wrecking coal empire Feb 20 edition. 🧵 #StopAdani

"@Forbes has identified previously unreported transactions involving offshore funds with ties to Vinod Adani that appear designed to benefit the #Adani Group. The deals also lend further credence to #Hindenburg’s allegations..."

forbes.com/sites/johnhyat…

“Thanks to the ‘convoluted structures’ and ‘multiplicity of subsidiaries’ cited in the #HindenburgReport, #Adani has long been able to finance its dirtier operations with the proceeds of sustainable fund flows.”

bloomberg.com/news/articles/…

"A Feb. 10 public filing has since made clear that #Adani is using stock from its Green companies as collateral in a credit facility that’s helping to finance the Carmichael coal mine in Australia, via Adani Enterprises Ltd.” @Amundi_FR @Barclays @TIAA

bnnbloomberg.ca/adani-credit-f…

"The beleaguered conglomerate #Adani Group is facing an investigation by Indian regulators into fraud allegations made by the US investor #HindenburgResearch, as a brief reprieve in pressure on its shares gives way to more selling."

theguardian.com/business/2023/…

"@MSCI will release the results of a quarterly review for its ESG and climate indexes...If it reflects a significant downgrade in the ESG ratings of any of the #Adani companies, they could be removed from ESG indexes and trigger a fresh round of selling.”

economictimes.indiatimes.com/markets/stocks…

"The Centre is “running away” from a JPC probe into the #Adani-Hindenburg issue, the Congress alleged on Tuesday and said the government should allow the investigation if has nothing to hide.”

energy.economictimes.indiatimes.com/news/renewable…

"The Congress on Saturday asked if a minister in the Narendra Modi government had called up industrialists and asked them to invest in the #Adani Enterprises follow-on public offer (FPO) when it was floundering following the #HindenburgResearch report.
telegraphindia.com/india/congress…

"Modi stands accused of helping #Adani secure lucrative deals for coal & renewable energy projects in neighbouring Sri Lanka & Bangladesh. 🇮🇳’s ongoing commitment to coal has also been linked to the Adani group’s mammoth investment in 🇮🇳’s coal sector."

theguardian.com/business/2023/…

"...#Adani’s listed companies are overvalued by more than 85%. Based on these valuations, the companies reportedly borrowed billions of💸on the international markets & from🇮🇳 public sector banks...where millions of ordinary 🇮🇳s invest their life savings."

theguardian.com/commentisfree/…

"It remains to be seen if the new strategy will convince investors... The conglomerate has been noticeably reluctant to address calls for independent investigation into the claims of corporate malfeasance and lack of regulatory compliance." #Adani

livemint.com/companies/news…

"FTSE's update comes after @MSCI_Inc announced weighting changes for 4 #Adani stocks & then delayed the changes for 2 of them. Global firms have been circumspect about the conglomerate after #HindenburgResearch accused it of 'stock manipulation'..."
moneycontrol.com/news/business/…

"It seems the agreement ignores the interests of Bangladesh & favours the interests of the #Adani Group in such a way that the electricity sector of Bangladesh can become a hostage in the hands of this company...” @anticorruption

tbsnews.net/bangladesh/ene…