Sunday, January 17, 2021
Markfed Sohna New

verka new year

Innocent Hearts INNOKIDS Banner

French giant Amundi threatens to divest SBI bonds if loan granted for Adani coal project

- Advertisement -

New Delhi, Nov 28, 2020-
One of the State Bank of India (SBI)’s investors, French giant Amundi has announced that it would sell off its SBI green bonds if the bank grants a Rs 5,000 crore loan to Adanis Carmichael coal mine in Australia.

“We consider SBI should not finance this project. Ultimately it’s their decision but we’ve been extremely clear on the fact that if they decide to do it, we would immediately disinvest,” Director of the Institutional Corporate Clients Division & ESG, Jean Jacques Barberis, was quoted as saying by a global wire service.

“Financing the mine would be in “total contradiction” to the SBI activities financed through its green bond, he added.

“We have engaged SBI asking them not to participate (in the loan) and now we are waiting for their answer”, he was quoted as saying.

Amundi, which holds the bond in its Amundi Planet Emerging Green One fund, said it had learnt this week that SBI was considering financing the Carmichael thermal coal mine in Australia.

The Adani Carmichael project has been opposed by climate activists due to the issue of carbon emissions.

Reports said the move from Amundi demonstrates that some financial institutions understand the serious reputational risks associated with supporting a new thermal coal project like Adani’s mega mine, especially in the middle of a global pandemic and intensifying climate disasters.

Amundi is Europe’s largest asset manager and ranks in the top 10 globally. It manages assets worth 1,650 billion euros.

Responsible investment has been the starting point in Amundi’s investment policy. When it was created in 2010, Amundi made social and environmental responsibility one of its four founding pillars. It was one of the founding signatories of the Principles for Responsible Investment. (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -HS Bawa Bandi Chhor Divas Diwali Message

Stay Connected

20,464FansLike
112,826FollowersFollow

ENTERTAINMENT

Priyanka Chopra lauds India’s Covid vaccine drive

Los Angeles, Jan 16, 2021 - Bollywood actress and UNICEF Goodwill Ambassador Priyanka Chopra on Saturday lauded India's Covid vaccination drive, and also expressed gratitude...

Nushrratt Bharuccha’s sultry Saturday vibes

Mumbai, Jan 16, 2021- Nushrratt Bharuccha spent Saturday sending out sultry vibes to fans on social media. The actress posted pictures on Instagram Stories where...

Big B known in West just like Maradona in India: Argentina’s Pablo Cesar

New Delhi, Jan 16, 2021- Argentine filmmaker Pablo Cesar loves returning to India, and enjoys Indian commercial films. "They have a unique style. In commercial cinema,...

Kajol: Understood my mother after I had my daughter

New Delhi, Jan 16, 2021- Bollywood star Kajol cherishes her special bond with her mother, veteran actress Tanuja, and says she truly understood her only...

Bigg Boss 14 - The Latest

National

GLOBAL

OPINION

US Capitol Violence

Political Violence in Washington – by DC Pathak

The presidential election in the US marked by an unusually confrontationist run up to the polls and an equally bitter post-poll phase of transition,...
Cryptocurrency Bitcoin

Bitcoin may not be a big hit in India, but tokenization will be – by Rahul Kumar

With Bitcoin reaching a record high of US $40,000, there is fresh media attention on the whole crypto subject. Once called the riskiest asset...
Narendra Modi Emmanuel Macron

China’s muscle flexing brings France and India together – by Ranjit Kumar

Amid simmering military tensions between India and China over Ladakh, France has slammed Beijing, pointing out that Paris supports New Delhis security concerns including...

SPORTS

Health & Fitness

Cancer Logo

‘Over 50,000 cervical cancer cases can be prevented in India by 2050’

New Delhi, Jan 16, 2021- As every year 1,32,000 Indian women are diagnosed with cervical cancer and 74,000 die of the disease, it is considered as one of the deadliest forms of cancer that leads to mortality in women. If we see the Indian statistics, a large population of 436 million women falls into the age bracket of 15 years...

Gadgets & Tech

error: Content is protected !!