Gautam Adani boosting fossil fuel footprint despite pledge to turn carbon neutral

Gautam Adani is increasing his footprint in fossil fuels, new research shows, even as the Indian billionaire vows to make his ports-to-power conglomerate carbon negative.

The Adani Group is doubling its coal-fired power capacity to 24 gigawatts, plans to own, develop or operate coal mines with a combined capacity of 132 million tons a year, and is pursuing oil and gas projects, including a partnership with France’s TotalEnergies SE, according to a report published Monday by environmental nonprofit Market Forces. The Australia-based organization, a vocal critic of Adani’s Carmichael coal project in Queensland, said its analysis is based on data from across several Adani holdings.

Taken together, these initiatives show a company that is making a significant negative contribution to global warming rather than preparing for the energy transition, said Pablo Brait, a campaigner at Market Forces.

The findings may increase scrutiny on the India-based group and its founder, who is rapidly rising up the ranks of Asia’s richest people and earlier this year signed one of the continent’s biggest clean energy loans with 12 global banks.

ET Energy World
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