EbeneMagazine – AU – French giant Amundi is threatening to sell SBI bonds through the Adani coal mine

0
2

. .

IANS |
New Delhi
Last updated on 28. November 2020 at 7:28 pm IST

French giant Amundi, one of the investors in the State Bank of India (SBI), has announced that it will sell its SBI green bonds if the bank of Australia’s Adanis Carmichael coal mine borrows $ 5. 000 rupees granted.

« We think SBI shouldn’t 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. document. write («  »); googletag. cmd. push (function () {googletag. defineOutOfPageSlot (‘/ 6516239 / outofpage_1x1_desktop’, ‘div-gpt-ad-1490771277198-0’). addService (googletag. pubads ()); googletag. Pubads (). enableSyncRendering (); googletag. enableServices ();});

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 (on the loan) and now we are waiting for their response, » he was quoted as saying.

Amundi, which holds the bond in its Amundi Planet Emerging Green One fund, said it learned this week that SBI is considering funding the Carmichael thermal coal mine in Australia.

The Adani Carmichael project has been turned down by climate activists because of its carbon emissions.

Amundi’s move reportedly shows that some financial institutions understand the serious reputational risks associated with supporting a new thermal coal project like Adani’s mega-mine, especially amid a global pandemic and worsening climate change.

Amundi is Europe’s largest asset manager and is among the top 10 worldwide. It manages assets worth 1. 650 billion euros.

Responsible investing has been the starting point in Amundi’s investment policy. When Amundi was founded in 2010, it made social and environmental responsibility one of its four pillars. It was a founding signatory to the Responsible Investment Principles.

(It is possible that only the headline and image of this report have been revised by Business Standard staff. The rest of the content is automatically generated from a syndicated feed. )

Business Standard has always endeavored to provide updated information and commentary on developments that are of interest to you and have a wider political and economic impact on the country and the world. Your encouragement and constant feedback to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these troubled times resulting from Covid-19, we continue to strive to keep you updated with credible news, authoritative views, and concise comments on relevant topics.
However, we have a request.

As we struggle against the economic impact of the pandemic, we need your support even more so we can continue to offer you higher quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. A larger subscription to our online content can only help us achieve our goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor

Business Standard would be happy to inform you about the introduction of « Business Standard Premium Services »

As a Premium subscriber, you get unrestricted access to a range of services across all devices, including:

Welcome to Business Standard Premium Services, courtesy of FIS.
Please visit the Manage My Subscription page to discover the benefits of this program.
Have fun while reading!
Team Business Standard

Adani Group, State Bank of India, Bond, Amundi, Finance, Cricket, Australia, Sydney Cricket Ground, Protest, Carmichael Coal Mine

EbeneMagazine – AU – The French giant Amundi is threatened with alienation from SBI bonds to Adani coal mine credit

Ref: https://www.business-standard.com

QU’EN PENSEZ-VOUS?

Abonnez-vous à notre chaîne Youtube en cliquant ici

Vidéo du jour: De la cocaïne retrouvée dans une école maternelle de Seine Saint Denis, deux enfants hospitalisés

Laisser un commentaire, votre avis compte!

[gs-fb-comments]