Stop Adani Profile picture
Mar 1 13 tweets 15 min read
A timely reminder for investors while #Adani is on its "charm-offensive". Only a fool would take Adani at its word. Here's a quick and by no means comprehensive thread of some notable lies from Adani. 🧵 @MSCI_Inc @MoodysInvSvc @FitchRatings @SPGlobal @TIAA @BlackRock @PIMCO
#Adani 🤥 no. 4080
Adani can’t keep its story straight about the size of its Carmichael #coal mine. The group has made many contradictory and misleading statements about the size of Carmichael, often changing its story depending on which audience it’s addressing. #StopAdani Image
#Adani🤥no. 4081
2021: Adani told @Vanguard_Group “they had capped the size of the (Carmichael) mine & intended to set an end date for operations to fit within the parameters of a 1.5°C warming scenario."
2022: Adani said they were expanding to 25-30MTPA.
marketforces.org.au/vanguards-farc…
Adani🤥no. 4082
2020: #Adani's CFO said coal was “becoming an increasingly insignificant part of the group’s portfolio” & Adani was not interested in taking part in domestic coal auctions. Adani went on to make the highest number of bids & has bought at least 8 coal mines since. ImageImage
#Adani 🤥no. 4083
Adani was caught lying about clearing bushland at the Carmichael coal mine and was found guilty of providing false and misleading information to the Queensland government. #StopAdani
theguardian.com/business/2020/…
#Adani🤥no. 4084
Adani ‘categorically denied’ engaging with Myanmar's military before photo and video evidence emerged of Adani Ports CEO Karan Adani meeting with the junta’s top general and even exchanging gifts. #StopAdani @MSCI_Inc @MoodysInvSvc
abc.net.au/news/2021-03-3…
#Adani🤥no. 4085
Adani has pumped out A LOT of misleading & frankly nauseating #greenwash in recent years while destroying large areas of old-growth forest for coal and becoming the biggest proponent of new coal in the world after Coal India. #StopAdani ImageImage
#Adani 🤥no. 4086
These actual back-to-back tweets from #GautamAdani. Which one is it mate? Do we need clean energy or is coal the greatest birthday gift of all? #StopAdani ImageImage
#Adani 🤥 no. 4087
Adani and its backers (hi @mattjcan! still no comment on Hindenburg?) promised the Carmichael coal mine would create 10,000 jobs. Later in court Adani’s own economist admitted that number was exaggerated by about 85%. #StopAdani brisbanetimes.com.au/national/queen…
So when #Adani says it’s not using its toxic coal port in the Great Barrier Reef WHA to raise debt, or that it has enough $$$ to repay its debts, well… Fool me once, shame on you. Fool me repeatedly in a clear pattern of brazen and systematic dishonesty over several decades…
Another brazen #Adani lie. Adani CFO told investors they're engaging with ratings agencies & "in all of those fronts, all our scores remain the same." Same article contains a list of several ratings agencies that've downgraded Adani already. #StopAdani economictimes.indiatimes.com/prime/corporat… Image
March 9: #Adani tell investors all share-backed loans have been paid back
March 10: Adani pledges more shares as security for loans.
Telling investors a bunch of blatant🐎💩 is a strange way to restore confidence after being accused of "the largest con in corporate history"! ImageImage

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More from @stopadani

Mar 7
Slight reprieve for #Adani this week due to a baffling $1.9B from @GQGPartners-who apparently❤️fossil fuels > due diligence. Aside from that it’s been a total binfire for the rapidly unraveling coal giant. Here’s another round up of bad news for Adani’s destructive coal empire🧵
#Adani Group’s complex debt structure and weak transparency, evidenced by the use of Adani Green Energy shares to support its coal unit, could further increase ESG concerns and hinder funding access.” @MSCI_Inc @MoodysInvSvc @FitchRatings @SPGlobal
moneycontrol.com/news/business/…
"Over time, the group (#Adani) has emerged as India’s biggest coal MDO — currently, it has nine MDO contracts for blocks holding more than 2,800 million tonnes of coal." @MSCI_Inc @MoodysInvSvc @FitchRatings @SPGlobal @Barclays @BlackRock @TIAA aljazeera.com/economy/2023/3…
Read 15 tweets
Feb 27
It's been 1 month since #Hindenburg accused coal giant #Adani of the "largest con in corporate history". How are things looking for Adani? Ahem...

Here’s a round up of bad news rocking Adani’s land-grabbing, climate-wrecking, ecosystem-destroying coal empire this week. 🧵
"The rout in #Adani Group shares has room to run based on charts that show key stocks in #GautamAdani’s empire may still extend declines to the 85% downside flagged by #HindenburgResearch."
@MSCI_Inc @MoodysInvSvc @BlackRock @Vanguard_Group @Barclays

bloomberg.com/news/articles/…
“Apart from the future of the billionaire & his business empire, something bigger is on the line: 🇮🇳’s probity in corporate governance & pursuit of a development model in which the state has entrusted a few ultra-rich men with running 🇮🇳’s infrastructure"
telegraphindia.com/india/indias-p…
Read 16 tweets
Feb 20
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/…
Read 13 tweets
Feb 13
Things have gone from absolutely horrendous to utterly diabolical for coal giant #Adani. Here’s another thread of bad news that’s hit Adani’s climate-wrecking, forest-annihilating, village-displacing coal empire over the last few days.
#GautamAdani, whose Indian business empire is under pressure over fraud allegations, repaid a $1.1bn share-backed loan last week after facing a margin call of more than $500mn, according to four people with direct knowledge of the matter."

ft.com/content/b5ad18…
"Shares of #Adani Group’s flagship firm are still expensive on some metrics despite plunging more than 50%... according to a New York University finance professor known for his expertise on valuation."

bloomberg.com/news/articles/…
Read 18 tweets
Jan 31
A fab explainer from Jess Harwood of what went down after #Hindenburg released their exposé on @AdaniOnline ! What will it take for Adani’s investors @Citi @BlackRock @Vanguard_Group @Barclays @HSBC @mufgbk_official @TIAA to stop funding #Adani ? #StopAdani #HindenburgReport
Read 9 tweets
Jan 30
It was clever of #Adani to copy & paste long tranches of completely irrelevant information into its "rebuttal" to #Hindenburg. Presumably they hoped investors wouldn't have time to read it & would err on their side. But investors should already know better than to fund Adani. 🧵
Many courageous people in India have been exposing the truth about #Adani long before the #HindenburgReport. Including brilliant journalists like @t_d_h_nair @paranjoygt & @AbirDasgupta101 who are all facing SLAPP suits for daring to report critically. adaniwatch.org/unravelling_ad…
1000s of activists & community members have been speaking out against #Adani to defend forests, farms, villages & ecosystems in places like Godda, the Hasdeo forest, Vizhinjam & Lake Pulicat. They do so at great personal risk & many have paid a high cost. washingtonpost.com/world/2022/12/…
Read 7 tweets

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