BlackRock, Storebrand Pressure Indian Bank Over Coal Mining Loan

Bloomberg Quint | Dec 4, 2020 at 7:15 PM
  • Shareholders of India’s largest bank are raising concerns about a proposed loan to Adani Enterprises Ltd. to help fund the opening of the controversial Carmichael coal mine in northern Australia.
  • BlackRock, which holds shares of both Adani and SBI, has met with the companies tied to the Carmichael project and raised its objections because the plan has ESG-related risks.
  • The Queensland government approved a scaled-back plan for the mine in June 2019 after about a decade of challenges from environmental groups.