CEF in the media
We ask 10 ASX hydrogen companies – what is your number one goal for 2023?
Stockhead
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.”
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Adani empire loses more than $100 bn after fraud claims
Economic Times/Energy World
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.
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Fears Adani’s losses will impact India’s economy
ABC Radio National AM
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.
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Adani Enterprises Calls Off Rs 20,000 Crore FPO, To Return Investors’ Money
The Wire
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.”
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Adani Group abandons share offer as crisis triggered by fraud claims escalates
The Guardian
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.”
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Australia remains committed to coal
International Politics and Society journal
A story addressing Australia’s continuing commitment to coal, citing revelations of misrepresentation in quality certificates and the perpetuation of the myth of Australian coal’s superior quality by the Albanese government. Tim Buckley notes there is no doubt that ‘fraud, deception, theft and bribery’ are involved in the falsification of the certificates, the question now is how widespread the practice is.
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Our climate challenge is our greatest opportunity: So how do we get it right?
Renew Economy
The newly formed Climate Capital Forum – a coalition of financial experts, investors, philanthropists, industry bodies and NGOs – this week launched a policy roadmap detailing bold reforms to position Australia as a superpower in zero-emissions trade and investment. Tim Buckley outlines the key policy asks.
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Gautam Adani’s Middle Eastern Allies Help Him Shrug Off Fraud Allegations, Wealth Plunge
Forbes
Friends and boosters from the Middle East are rushing to the side of the beleaguered Adani as it completes its share offering. Tim Buckley notes that “anyone who supported this equity raising has done it to support the Adani Group.”
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This Mogul Lost $36 Billion in Days. Who Is He, and What Happened?
New York Times
Tim Buckley is interviewed by NYT on the Adani revelations and the company’s response. He observes that the fight could have geopolitical implications, given the United States’ courting of India as a counterweight to China, as part of the Quad partnership that also includes Japan and Australia.
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Who is Gautam Adani? India’s richest man is bleeding money after getting in a war of words with a major short-seller
Fortune magazine
Tim Buckley is quoted in this story from Fortune about the Hindenburg report alleging corporate fraud on a massive scale at the Adani Group
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Is Adani the biggest corporate con in history?
The Project
Tim Buckley is interviewed in this feature on allegations of systematic corporate wrongdoing at the Adani Group noting that the previously teflon coated Adani is now facing heavy scrutiny by US regulators, as the company bleeds billions, also commenting on implications for its coal operation in Australia.
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Adani crisis deepens as Hindenburg report exposes alleged fraud
ABC TV The Business
Tim Buckley comments on the Adani story on ABC TV’s flagship The Business as Adani Group shares plunge, noting Hindenburg’s allegations appear credible and Adani doing an “independent” audit is not sufficient – India’s financial regulators must step in to investigate.
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