60,944 signatures

14 signatures until 75k

abrdn update: August 2024

After a scandal plagued year has wiped billions from its valuation, Adani is making a comeback. Right now Adani is making the rounds to investors, seeking to raise billions of dollars to bring back disastrous projects like its coal-to-plastics plant in Mundra, India.

abrdn - one of the UK's largest investors - has held significant investments in Adani stocks and bonds although in recent months its shown signs its support was waning. But as Adani drums up investor interest for its massive new round of coal expansion, abrdn still hasn't confirmed publicly whether it's in or out. As it tries to project confidence in its first capital raising in months, what Adani most certainly doesn't need is a high profile investor like abrdn walking away.

So the question becomes: will abrdn rule out new investments in Adani?

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The world’s largest private coal operator - whose projects have trampled over Indigenous lands and dredged through natural treasures like the Great Barrier Reef - is in free fall.

Why? Because a top investment research firm dropped an explosive report calling Adani “one of the largest corporate frauds in history" and accusing it of “brazen accounting fraud, stock manipulation and money laundering.” Since then over $70bn has been wiped from the value of the company.

But it’s not enough to stop CEO of Adani Group, Gautam Adani - yet. His devastating coal expansion has only been made possible because of trillions in financing from the world's most prestigious financial institutions. It will only be stopped once these investors pull out.

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Adani has 17 coal mines in the works across the Asia-Pacific region. The Adani Group has a horrific track record of violence, exploitation, corruption, land-grabbing, the list goes on.

There are incredible stories of courage and resistance standing up against this company that has stolen people’s homes and ancestral land from the Wangan and Jagalingou Traditional Owners in Australia, to the Indigenous Adivasi communities in India.

But it’s happening in places far from where the deals are being made by CEOs and businessmen from Wall Street, to the City of London. That is where you come in.

Will you sign the petition calling for CEOs like TIAA: Thasunda Brown Duckett, Blackrock: Larry Fink, Pimco: Emmanuel Roman and abrdn: Stephen Bird to stop supporting the climate destroying company Adani?

More information

Protesters target Abrdn AGM over fossil fuel investments
The Ferret. 10 May 2023.

Activists Ask Bondholders to Stop Funding Adani’s Coal Empire
Bloomberg. 30 January 2023.

How the world’s 3rd richest man is pulling the largest con in corporate history
Hindenburg Research. 24 January 2023.

A Short Seller Costs an Indian Giant Billions
The New York Times. 30 January 2023.

How political will often favours a coal billionnaire and his dirty fossil fuel
Washington Post. 12 September 2022.

Adani trashes Indigenous Rights
Stop Adani. 16 June 2022.

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Sign the petition

TO: Stephen Bird (CEO, abrdn); Thasunda Brown Duckett (CEO, TIAA); Larry Fink (CEO, Blackrock) and Emmanuel Roman (CEO, Pimco).

Investing in the Adani Group makes you complicit in Adani’s coal expansion and Indigenous land rights violations. It's time to rule out any new investment in the world's most controversial coal developer. With Adani all investments lead to coal. And as Gautam Adani plans expansion of dozens of coal projects across the Asia-Pacific region, any financial support to a company with no plans to transition will spell climate catastrophe.

60,944 signatures

14 signatures until 75k

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Stephen Bird (CEO, abrdn); Thasunda Brown Duckett (CEO, TIAA); Larry Fink (CEO, Blackrock) and Emmanuel Roman (CEO, Pimco).

Investors: Rule Out New Finance for Coal-Giant Adani

Investors: Rule Out New Finance for Coal-Giant Adani

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