Adani Enterprises
ADANIENT
2
exclusion reasons
2 themes
Adani Enterprises is screened out under 2 exclusion reasons spanning 2 issue categories.
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.
Ongoing violations of indigenous rights involving the Wangan and Jagalingou peoples, who oppose the Carmichael coal mine project on their traditional lands
Adani Enterprises is India's largest private coal mining company, operating as a Mine Developer and Operator (MDO). The company is actively expanding its coal mining operations, including the Carmichael mine in Australia, which is now operational and producing 10 million tons of coal annually. Adani Enterprises also has significant coal trading volumes, reporting 16 million metric tons in a recent quarter.
The company is central to a massive fossil fuel expansion within the Adani Group. Through its subsidiary Adani Power, the group operates 18.15 GW of coal-fired generation capacity across 12 thermal power plants. Public disclosures indicate plans to expand this capacity to 41.87 GW by 2031-32. Furthermore, Adani Enterprises is pursuing new mining leases and developing coal-to-chemicals projects, signaling a strategic commitment to the long-term use of coal.
Research Sources
9 organizations
Related Exclusions
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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