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Mar 7 • 15 tweets • 16 min read
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…
.@Forbes revealed Vinod Adani's central role in some of Adani's biggest deals after Adani insisted in its response to #Hindenburg that Vinod “has no role in the day to day affairs” of the #Adani Group’s businesses. 😳 @MSCI_Inc @MoodysInvSvc @SPGlobal
forbes.com/sites/giacomot…
Scrutiny continues to increase on an unfair contract allowing #Adani to overcharge Bangladesh for power from its planned Godda coal station - the intended destination of Carmichael #coal.

"He will take money by doing nothing. This is another robbery."

thedailystar.net/news/banglades…
“It is totally inappropriate for the @sciencemuseum to highlight the role of #Adani Green Energy without highlighting the role of Adani in being a major contributor to human-induced climate change due to its vast fossil fuel activities.”
theartnewspaper.com/2023/03/01/cri…
"European ESG funds have sold off some of their #Adani Group holdings, with the number listed as including the embattled Indian conglomerate down by 6% over the past two weeks."
#StopAdani @MSCI_Inc @MoodysInvSvc @FitchRatings @SPGlobalRatings
bloomberg.com/news/articles/…
"Ratings agency @MoodysInvSvc's unit ICRA on Friday revised the outlook for #Adani Group’s ports and energy businesses to negative from stable, citing a deterioration in the Indian conglomerate’s “financial flexibility”." @MSCI_Inc @SPGlobalRatings
reuters.com/article/adani-…
"The sharemarket abyss that the ports-to-power conglomerate remains in and uncertainties over credit ratings continue to fan worries about its access to funds following a short-seller attack." #Adani #StopAdani @MSCI_Inc @MoodysInvSvc @SPGlobalRatings
afr.com/companies/ener…
"the Hasdeo area is a fragile biodiversity zone that stretches into elephant corridors of Raigarh… it is also the bastion of #Adani's coal empire. The company has 9 coal blocks...several of which are yet to begin operations due to continuing protests."
thewire.in/rights/is-ther…
"Bravus (#Adani) must now do extra groundwater modelling after providing Queensland's Department of Environment and Science (DES) with new information indicating that future underground mining may draw down on water from the nearby Doongmabulla Springs." abc.net.au/news/2023-03-0…
"The National Stock Exchange has removed 4 #Adani Group stocks from the Nifty Alpha 50 index with effect from March 31. These are Adani Enterprises, Adani Green Energy, Adani Transmission, and Adani Total Gas, according to the release by NSE Indices."

economictimes.indiatimes.com/markets/stocks…
"There is evidence indicating that an entity linked to the #Adani Group financially supported a company that violated sanctions imposed by the United Nations Security Council (UNSC) on trade with North Korea." @MSCI_Inc @MoodysInvSvc @SPGlobalRatings
adaniwatch.org/exclusive_was_…
To add insult to injury, one of the lone voices #Adani’s own TV network could find to speak out in support of Adani was former 🇦🇺 PM Tony Abbott - a man almost as infamous for his love of fossil fuels as for once eating a raw onion. #StopAdani
ndtv.com/india-news/eas…
@MSCI_Inc @MoodysInvSvc @FitchRatings @SPGlobal Woops. Here's the right link. moneycontrol.com/news/business/…

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More from @stopadani

Stop Adani Profile picture
Mar 1
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…
Read 13 tweets
Stop Adani Profile picture
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
Stop Adani Profile picture
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
Stop Adani Profile picture
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
Stop Adani Profile picture
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
Stop Adani Profile picture
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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