How pension funds, rating agencies view coal, and what it means for Adani’s ESG credentials
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Students from different schools raise placards during protest for climate change awareness in Sydney.
Synopsis
Last month, the Norwegian government’s pension fund announced complete divestment from the Adani group worth USD200 billion. KLP, another Norwegian pension fund, was divested from Adani Greens on January 30. Some global rating agencies are closely monitoring the company on the ESG front.
Even as the Hindenburg report on Adani creates ripples, the group's exposure to coal and mining appears to be having an impact on its ESG (environmental, social, and governance) credentials. The coal mining project in Australia’s Carmichael, the Godda thermal power plant in Jharkhand, and the Kete Basan coal blocks in Chhattisgarh — some of the major coal-related operations of the Adani group in India and abroad — have been directly or
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