Coal mining giant Adani is about to issue bonds to raise billions of
dollars – and one of the firms that might hand them the money is a Swiss
“sustainable investing” bank called Lombard Odier.

Tell Lombard Odier to rule out buying Adani’s new bonds.

[ [link removed] ] Sign the petition 

   
John,

India's coal giant Adani is rushing to raise hundreds of billions of
dollars with a dubious “green” bond sale in June, just days after Delhi
hit a deadly 52℃ (125℉).

The company is plagued by scandals, and last year, Norway’s largest
pension fund sold its Adani Green shares after it found the company was
using its stock as collateral to finance coal mining.

So you’d think that a Swiss bank that wants to be “the leading independent
firm for sustainable investing” would keep clear of Adani bonds too,
right?

Well, there’s still time to make it so:

[ [link removed] ]Tell Lombard Odier to rule out buying Adani’s new bonds.

Lombard Odier was the first asset manager to be awarded B Corp
certification, a prestigious label signaling a commitment to environmental
responsibility shared by brands including Patagonia, The Body Shop, Ben &
Jerry’s.

But the Swiss bank hasn’t acted on warnings from campaigners showing that
Adani Green funds are being misappropriated to finance new coal mines. And
in fact, Lombard Odier’s Adani holdings rose by 20% to nearly $140 million
last year.

What's more, an explosive financial analysis has now found that Adani
Green is extremely over-leveraged, and that its bonds appear far less
risky than they truly are. What is Lombard Odier waiting for?

Let’s strike while the iron is hot:

[ [link removed] ]Tell Lombard Odier to show some leadership and shun Adani bonds.

We’ve been fighting Adani for years. And thanks to Ekō members and other
activists' sustained pressure on the asset manager Abrdn, we were able to
stop that company from buying Adani’s last bond in March.

The best time for Lombard Odier to rule out buying Adani’s bonds was years
ago, but the second best time is now.



[ [link removed] ] Sign the petition 



Thanks for all that you do,
Nick, Bryony, Eoin and the team at Ekō


More information:

[ [link removed] ]Billionaire Adani’s Green Targets Questioned in Snowcap Analysis
Bloomberg 30 May 2024
 
[ [link removed] ]Robeco, Lombard Unit Among Buyers of New Adani Green Bonds
Bloomberg 28 March 2024
 
[ [link removed] ]Investors and banks financing Adani’s ‘green bond’ fail first litmus
test post-Hindenburg
Toxic Bonds Network 04 March 2024
 
[ [link removed] ]World heat wave disaster history: A comparative analysis with India
The Times Of India 31 May 2024

 

 

Ekō is a worldwide movement of people like you, working together to hold corporations accountable for their actions and forge a new, sustainable path for our global economy.

Please help keep Ekō strong by chipping in $3. [link removed]