Tell Australian super funds to stop funding Adani | GQG investments are funding Adani’s expansion of coal and lethal weapons

Tell Australian super funds to stop funding Adani

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Australian pensions are funding Adani’s deadly business activities.

Some of Australia’s biggest super funds have seen an increased exposure to Adani through their investments with GQG - an unethical money manager that has pumped billions of dollars into Adani this year.

Send an email to Australian super funds Cbus, CareSuper, AusSuper and Rest, and demand they withdraw Australians’ retirement savings from Adani, a company funding human rights abuses and coal expansion.

Your email will be most powerful if you put it in your own words. AusSuper will register your email as a formal complaint.

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Subject:

I am writing to demand that you divest from GQG and all Adani Group companies, on account of the Adani Group’s continued investments in coal expansion and the manufacturing of lethal weapons.

I am very concerned about your willingness to continue to invest in GQG while it pumps billions of dollars into the Adani Group - a company pursuing one of the biggest new coal expansions in the world while expanding its production of lethal weapons, including those being used by Israeli Defence Forces to kill thousands of innocent people in Palestine.

Adani manufactures the huge Hermes900 drone-missile weapons with Elbit, Israel’s largest arms producer, and develops and manufactures assault and sniper rifles and machine guns with Israel Weapon Industries (IWI) for the Israel Defense Forces.[1] These weapons are being used by the Israeli Defence Forces to murder innocent men, women and children in Gaza in an ongoing assault that UN experts have warned puts the Palestinian people at “grave risk of genocide”.[2]

It should be no surprise that a company profiting from the production of lethal weapons should also be fuelling the climate crisis. The Adani Group is planning to develop more new thermal coal mining capacity than any other private company in the world according to Global Energy Monitor.

Right now Adani is opening an entirely new coal basin and building the biggest coal mine in Australia's history. Adani’s Carmichael Coal Project does not have the consent of Traditional Owners, will drain billions of litres of precious water resources, increase coal ships in the Great Barrier Reef World Heritage Area and turbocharge global heating.

Adani is planning to significantly expand its coal business in India with new coal mines, coal ports and coal plants. Adani has purchased at least 12 new coal mines since 2020. [3] Adani’s expansionary coal projects are displacing thousands of Indigenous Adivasi people and destroying forests, farms and villages. [4]

On top of Adani’s devastating environmental and social impacts, Hindenburg Research has laid out detailed and damning evidence of “brazen accounting fraud, stock manipulation and money laundering” at the Adani Group that they say amounts to “one of, if not the most egregious example of corporate fraud in history.”[5] These allegations have been corroborated by multiple independent media investigations.

Despite all this, GQG has been massively increasing its investments in the Adani Group, and increasing your fund’s exposure to the Adani Group in the process. This means Australians’ retirement savings are funding coal expansion and serious violations of Indigenous land rights and human rights across the globe.

Will you make a public commitment to divest from GQG and all Adani Group companies, ruling out any further investment until Adani proves its commitment to a safe and sustainable future by abandoning its coal expansion plans and production of lethal weapons?

I expect a response within one week of this email.

References
[1] https://www.adanidefence.com/unmanned-aerial-systems, https://www.adanidefence.com/small-arms 
[2] https://www.ohchr.org/en/press-releases/2023/11/gaza-running-out-time-un-experts-warn-demanding-ceasefire-prevent-genocide 
[3] https://www.marketforces.org.au/campaigns/stop-adani/adani-fossil-fuel-expansion-plans/ 
[4] https://www.adaniwatch.org/adani_s_coal_based_community_conflicts_in_india 
[5] https://hindenburgresearch.com/adani/

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