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Across the world, people are turning their attention to bond market’s role in funding fossil fuel expansion.

We call on

Investors to stop all new bond purchases from companies expanding fossil fuels and divest existing bond holdings, including in passive funds, from companies that do not have phase out plans in line with 1.5C.

Banks to stop underwriting bonds for companies expanding fossil fuels.


MSCI: Drop Adani from all indexes, now

MSCI has an outsized influence on the market and investors with its methodologies and indexes. Despite Adani’s fraud, stock manipulation and violation of financial laws, MSCI continues to include Adani Group companies in its mainstream and ESG indexes. This decision risks the integrity of MSCI’s methodologies and indexes.

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Banks and Investors: Get out of Adani

Hindenburg Research dropped an explosive report finding the Adani  Group has committed “one of the largest corporate frauds in history.” Investors and banks that have long been funding Adani’s coal expansion must deny debt to this corrupt company.

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Tell Barclays: It’s time to break up with Adani

Barclays has been playing a crucial role in helping the Adani group secure large sums of cash from investors for its coal expansion. In the financial world it’s called Adani’s “relationship bank” – which means it’s there by its side through every major deal. Call on Barclay’s to stop underwriting Adani’s bonds.

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Dent debt to Adani

The Adani Group is the world’s largest private coal developer. After being continuously exposed for blatantly expanding coal, fuelling climate devastation and committing egregious human rights violations, it has now been accused of corruption, insider trading, money laundering and criminal behavior.


Learn more about Adani’s biggest bondholders and underwriters, and their (lack of) commitments to deny new debt to Adani Group.

Learn more about Adani's toxic bonds

View campaigns led by members of the Toxic Bonds Network on fossil fuel bond issuers, investors and banks.