Media

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

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. Read more

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. Read more

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.” Read more

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. Read more