Coal taint threatens to mar Adani firm’s green cred

For facilitating credit to the Carmichael coal mine and its multiple dealings with the group’s coal-linked entities, Adani Green Energy’s ESG record is under scrutiny. Will it spook investors?

Adani Green Energy Ltd, India’s largest renewable energy player, has had an eventful year. Its latest financial results reported an impressive margin growth of 57% over the previous fiscal. That apart, it turned water positive, commissioned the world’s largest solar-wind hybrid plant and saw its operational portfolio cross 8 gigawatts, the highest in India. 

Yet, it has also been a year when the company has come under increased scrutiny over its environmental, social and governance, or ESG, record. Specifically, its links to the Adani group’s coal-based businesses.

In February, it was revealed that the Adani family—in a fallout of the …

Author

Nihar Gokhale

Nihar Gokhale led the Chaos coverage at The Morning Context. Nihar wrote on the environment, the economy and resource conflicts in India. He has reported from across the country on everything from displacement, pollution and environmental violations to land regulation, corruption and human rights. He was earlier associate editor at Land Conflict Watch, and his work has appeared in Scroll, The Wire, IndiaSpend, The Caravan and Mongabay India.

Editor, Chaos

nihar@mailtmc.com

Delhi

Author

Azman Usmani

Azman writes on climate change, ESG, and how a warming world impacts businesses and people alike. Prior to The Morning Context, he led climate coverage at BloombergQuint, where he started his career as a desk writer.

Writer

azman@mailtmc.com

Mumbai