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New Delhi: Amundi, based in France, one of the largest investors in India’s State Bank of India (SBI), threatens to sell SBI Green Bonds that it holds unless it stops his planned loan of 5. 000 rupees to Adani’s Carmichael coal mine in Australia.
« We don’t think SBI should fund this project. Ultimately, it is their choice, but we were very clear that if they did decide we would divest immediately, « Jean Jacques Barberis, director of institutional corporate clients & ESG, was quoted as saying by a global wire service.
« Funding the mine would be » in complete contradiction « to the SBI activities funded by their green bond, he added.
« We hired SBI to ask them not to participate in the loan (and now we are waiting for their response, » he was quoted as saying.
Amundi, which holds SBI Green Bonds as part of its Amundi Planet Green Emerging Fund, recently announced that the public lender would fund the controversial coal mining project in Australia.
Adani’s billion dollar Carmichael coal mining project in Queensland, Australia has been the center of much controversy since its inception as an activist due to the environmental issues it poses.
The development comes within days of the announcement by Samsung Securities, the investment arm of the South Korean conglomerate, that the project will not be supported after it was targeted by protesters for ties to the miner.
Six overs in Australia’s innings, protesters walked into the middle of the floor with placards reading « No $ 1b Adani Loan ».
Protesters wore a T-shirt with slogans like « #StopAdani », « Stop Coal » and « #StopAdani ». . Several anti-Adani protesters also gathered outside the Sydney Cricket Ground.
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Adani Group, State Bank of India, Bond, Amundi, Finance, Cricket, Australia, Sydney Cricket Ground, Protest, Carmichael Coal Mine
World News – AU – French Amundi threatens to sell off SBI -Bonds through the proposed Adani coal mine credit of 5. 000 rupees
Ref: https://www.timesnownews.com
