JP모건 투자 부문, 아다니 주식의 ESG 펀드 투자 철회

JP모건 투자 부문, 아다니 주식의 ESG 펀드 투자 철회

by  
Seneca ESG  
- 2023년 3월 2일

The asset management unit of JPMorgan [JPM:US] Chase has removed its exposure to India’s Adani Group from its environmental, social and governance (ESG) portfolios, as reported by Bloomberg on February 27. This followed a report from US-based short-seller, Hindenburg Research, accusing the company of accounting fraud and stock on January 24. As a result, JPMorgan’s two exchange-traded funds (ETFs) have sold off a total of 71,350 shares in Adani-owned cement producer ACC [ACC:IN]. The two funds are registered as Article 8 under the Sustainable Finance Disclosure Regulation (SFDR) of the European Union (EU), meaning that they are required to “promote” ESG goals. Nevertheless, JPMorgan still holds Adani stocks in non-ESG funds.

Adani empire lost more than USD145bn in market value in a month since the Hindenburg allegations. Before the crisis that shook the conglomerate of energy and port, the group had been rapidly expanding into green energy sectors. In September 2021, it raised USD750m through green bonds, with a pledge to invest USD20bn into renewables development over the next decade. However, a recent public filing by Adani revealed that it had used stock from companies marketed as “green” as collateral in a credit facility that is financing the Carmichael coal mine in Australia through its subsidiary Adani Enterprises [ADE:IN]. These scandals have severely damaged investors’ confidence in Adani’s green future. Subsequently, S&P Global removed Adani Enterprises from its Dow Jones Sustainability Indexes in February, while Sustainalytics also downgraded the ESG scores of several Adani companies.

출처:

https://www.bloomberg.com/news/articles/2023-02-27/jpmorgan-investment-arm-purges-its-esg-funds-of-adani-stocks?srnd=premium-asia

https://www.businesstimes.com.sg/international/jpmorgan-investment-arm-purges-its-esg-funds-adani-stocks

https://www.ft.com/content/e06b1797-7ac6-49f5-b4c8-cdf47652f65d

https://asia.nikkei.com/Editor-s-Picks/Interview/Adani-to-lean-on-green-bond-market-for-renewables-expansion

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