Adani Group says 'disappointed' by MSCI’s decision to drop Adani Ports from some of its climate change indices
1 min read . Updated: 29 Nov 2021, 08:24 AM IST
Premium- Adani Group issued a statement with respect to MSCI's action on dropping Adani Ports from some of its climate change indices
Adani Group issued a statement with respect to MSCI's action on climate change indices as it dropped Adani Ports from some of its climate change indices. Adani Ports in an exchange filing on Sunday said that the MSCI's decision on climate indices is disappointing.
“We are disappointed by MSCI’s decision to drop Adani Ports and Special Economic Zone (APSEZ) from some of its Climate Change indices. APSEZ has been far ahead of its industry in stating publicly, more than 15 months back, its absolute commitment to achieving carbon neutrality by 2025. In addition, we are also committed to the SBTi (Science Based Targets Initiative)," the Adani group company said.
In response to an ESG Controversy Report from MSCI in Q3, APSEZ had clarified to MSCI that it never had any shareholding in the Carmichael mine, and that it had already divested its stakes in both Bowen Rail and NQXT (North Queensland Export Terminal). We had also sent a reminder to MSCI on the matter. However, MSCI has not bothered to either incorporate the facts or provide an appropriate response to APSEZ, the company added.
“MSCI’s decision appears to be playing right into the hands of forces that want to subvert the green initiatives to which the Adani Group has made massive public commitments and tarnish the reputation of one of the leading green port operators of the world," Adani Ports said.
The company further highlighted that Email communication of 9 September accessed from the website of Market Forces Australia, which has been stridently campaigning against Adani businesses, reflects that “MSCI has already informed them as to how APSEZ’s exclusion from the indices is being structured. Clearly, this is an attempt to undermine APSEZ’s legitimate business interests."
While the company said it is disappointed with such an opaque process, it stays completely open to engaging with our investors and with MSCI to ensure complete alignment on the sustainability agenda.
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