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Investec ditches Adani over climate change

South African bank Investec has told Adani it will not help it raise capital for the Abbot Point coal terminal in Queensland, adding more complications to the project's attempt to refinance hundreds of millions of dollars worth of debt.

Investec adds its name to a long list of financial institutions and other businesses, including the big four Australian banks and a large number of local and international insurance companies, that have shunned Adani's Carmichael coal mine and associated operations.

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James Fernyhough writes about telecommunications, insurance and financial services. He's based in the AFR's Melbourne office. Connect with James on Twitter. Email James at james.fernyhough@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/investec-ditches-adani-over-climate-change-20200618-p553ze