Media

Tim Buckley discusses his outlook on the crisis grappling billionaire Gautam Adani in an extended interview on Bloomberg Markets Asia, identifying a core issue: the Indian regulators have been asleep at the wheel, meaning Adani Group, which owns major strategic assets including ports and airports, has been above the law, with investigations into its activities unresolved. Read more

In this interview with the BBC, Tim Buckley observes that “most of Adani’s ambitious projects will have to be heavily scaled back in ambition and timetable, because they will have next to no capacity to raise funds right now,” given the accusations of systemic fraud in the Hindenburg report. Read more

Supporting the release of the Climate Council’s report on Australia’s biggest emitters impacted by the government’s Safeguard Mechanism reforms, Tim Buckley says it is crucial to name and shame the laggards that are driving Australia’s industrial pollution to intensify pressure on them to act. “These dozen super-polluters must make tangible, deep progress on reducing emissions and governments and investors alike must hold them accountable”. Read more

Tim Buckley: “Will [the Hindenburg report] damage Adani? Categorically. It should have already. You’ll find a lot of Western capital will now avoid the Adani group. It is going to put Adani’s ability to access global western capital, and in particular green capital and ESG capital at risk.” Read more

Tim Buckley: “India would be a lot more effective in delivering on decarbonisation of its economy and powering its future with sustainable energy if it wasn’t for the pervasive corrupting influence of coal permeating through all government decisions there, like it is here in Australia. Let Adani’s downfall be a warning to Australian companies greenwashing their climate transgressions behind clever accounting magic.” Read more

Tim Buckley on ABC TV News Breakfast on the crisis gripping Adani after accusations of fraud by research firm Hindenburg, noting the risk of contagion in the financial system in India is very serious. With Wall St now closed to the Adani Group, there will also need to be a massive refinancing effort of half of their borrowings. Read more

Tim Buckley observes that credible and ambitious Safeguard Mechanism reform is critical to driving sustained, rapid reductions in scope 1 emissions: “It is important to call out the worst contributors to industrial pollution and make sure they start cleaning up their acts. We need sustained emissions reduction action, and the dozen super-polluters in the Australian economy should make tangible, deep progress on reducing emissions and governments and investors alike must hold them accountable”. Read more

Tim Buckley said one of the biggest challenges for the green hydrogen industry is the fact there is still no price on carbon and therefore no green premium: “We need an overt market signal because you cannot compete with fossil fuels this decade if there is no regulation enforcing a high price on carbon. If companies can pollute for free using fossil fuels, they will.” Read more

An AFP story quotes Tim Buckley noting that the scandal engulfing Adani raises the question of whether the company may be forced to sell off its crown jewels to strategic investors. Syndicated in India’s preeminent economics and finance news outlet, Economic Times, in Barron’s and elsewhere. Read more

Tim Buckley notes the Hindenburg accusations against Adani are staggering and unprecedented, and regulators in India have turned a blind eye and failed to evaluate the longstanding allegations of fraud, observing that the crisis may have broader implications for the Indian economy. Read more

As the troubled Adani Group, reeling after allegations of systemic fraud, calls off its share offer, Tim Buckley notes that “The only way Adani can actually resolve this issue is to illustrate who did buy all of the shares. It would be my speculation that there were insiders.” Read more

Tim Buckley comments that Adani’s avenues to raise money are severely curtailed given the serious allegations and subsequent share selldown. “Capital markets in Europe and the US have effectively closed to Adani. It could sell a major asset to an ally and try and dress it up so it doesn’t look like a fire sale.” Read more