MSCI’s quarterly indexes review is coming up on November 14, 2023 and it remains to be seen if MSCI will finally address the elephant in the room: the Adani Group.
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Evidence of alleged stock manipulation and fraud at Adani have been laid bare in a massive new leak of documents. It shows the word's largest private coal developer not only is lying about its climate record - it's lying to investors too.
But with a scandal this big, surely investors would flee? Not so. Thanks to a powerful company called MSCI yours and my pension funds will be all but forced to keep investing in Adani unless we act.
MSCI’s index rankings are hugely influential. Trillions of dollars in investments are tied to these indexes - and Adani companies are listed in over 30 of them. Getting removed from MSCI’s indexes would force widespread sell offs of Adani stocks and bonds.
This scandal could be enough to to cut off Adani's funding for his coal expansion. But only if institutions like MSCI step up.
Sign now: call on MSCI to remove Adani Group companies from all of its global indexes.
This week's news revealed that Adani was using off-shore shell companies registered in tax-haven countries to manipulate its stock prices and account books. It's massive a scandal that has implications for an investor with ties to Adani. MSCI advertises that its special ratings include robust standards like environment, climate, human rights and corporate governance issues.
Yet it continues to rank Adani’s stocks and bonds even in some of it's "sustainability" indexes, ignoring the Group’s poor track record in almost every standard- disastrous coal expansion plans, human rights abuses and now evdience of fraud and corruption.
Exclusion from MSCI indexes will damage Adani and discourage investors from funding its coal expansion plans. We need to ensure that MSCI and other performance index companies include robust standards in their analysis so that companies like Adani can't get unfettered access to global markets.
Add your name and demand that MSCI strikes Adani of its investment indexes.
More information
The Guardian. 31 August 2023.
Financial Times. 31 August 2023.
Adani Toxic Bonds. 27 March 2023.
Business Today. 8 August 2023.
