At Move Beyond Coal鈥檚 national webinar, which attracted around 170 participants, the crisis impacting the Adani Group and its implications for the Carmichael coal project in Queensland were discussed.
Tim Buckley, director of and long-term Adani analyst, Gurridyula Gaba Wunggu (Coedie McAvoy), Waddananggu Cultural Custodian who has spent the last 530 plus days reoccupying his ancestral homelands in Ceremony at Adani鈥檚 Carmichael mine-site; and Alice Delemare Tangpuori,聽a聽coordinator of the initiative in London, were the speakers.
Buckley said Adani Group: How The World鈥檚 3rd Richest Man Is Pulling The Largest Con In Corporate History聽100-page report, released on January 25, alleged Adani had undertaken accounting fraud, stock manipulation and money laundering.
鈥淭he Hindenburg Group has added new allegations of corruption, insider trading and fraud, which are even more extensive than we previously thought. The Adani Group is now in panic mode; every expansion is on hold.鈥
Buckley reported the Bangladeshi government has challenged the validity of the exorbitant price of Adani coal. 鈥淭his 25-year contract, on behalf of 160 million people, is the basis of the export of coal from the Carmichael site in Australia. Carmichael coal now doesn鈥檛 have a destination. The implications are enormous.
鈥淭he Hindenburg report helps us to reassess the situation, and step up our campaign against Adani and the coal industry in general,鈥 Buckley said.
According to Stop Adani, the Carmichael project in central Queensland is聽鈥渇loundering鈥.
Gurridyula Gaba Wunggu spoke about his occupation of the Adani Carmichael site on behalf of the Traditional Owners. 鈥淲e said 鈥楴o鈥 to the Adani mine 10 years ago and have said 鈥楴o鈥 ever since.
鈥淭his is 21st century colonialism. If I leave, they will destroy everything 鈥 the scar trees, birthing trees, natural springs, the artifacts.
鈥淚 am going to continue to stay here and prepare for the Adani empire to collapse.鈥
Tangpuori said the Hindenburg revelations have 鈥渉alted all loans from bond-holders and investment banks to Adani鈥 and that Toxic Bonds is 鈥渃urrently targeting bondholders to immediately divest from Adani鈥.
Protesters rallied outside the headquarters of Barclays Bank in London, handing out leaflets to staff entering the office which called on management to halt all loans to Adani.
Meanwhile, hundreds of supporters of opposition parties demonstrated across India to protest the misuse of government funds for Adani, an ally of Prime Minister Narendra Modi.
[Join the by spreading the message to your networks.]