"Adani Group reassures investors of its financial health and sustainability goals at Singapore roadshow"
Adani Group, the Indian multinational conglomerate, has reassured investors about its financial health during a roadshow in Singapore. The company stated that it has enough money and doesn't face any liquidity crunch. The roadshow was arranged after some foreign investors, including BlackRock and Norway's sovereign wealth fund, divested their shares in Adani companies amid concerns over environmental, social, and governance issues. Adani has faced criticism over its coal mining and port projects in Australia, with some activist groups calling for boycotts of Adani products. Despite these controversies, the Adani Group has reported strong financial performance in recent years, with revenues of over $15 billion in the last fiscal year. The group has a diversified portfolio of businesses, including ports, power plants, airports, and renewable energy projects. The roadshow was aimed at reassuring investors that the Adani Group has a long-term growth strategy and is committed to sustainability and ESG practices.
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During the roadshow, the Adani Group highlighted its plans to expand its renewable energy portfolio, which currently has a capacity of 3.5 GW. The company aims to achieve a renewable energy capacity of 25 GW by 2025, with an investment of around $20 billion. The group has also committed to reducing its carbon emissions intensity by 50% by 2030, as part of its sustainability goals.
The Adani Group's roadshow in Singapore comes at a time when foreign investors are increasingly looking at sustainable investments, and ESG issues have become a key consideration for investment decisions. Adani's reassurance about its financial health and commitment to sustainability is aimed at addressing the concerns of investors and retaining their confidence.
The Adani Group's financial performance has been strong in recent years, with a compounded annual growth rate of 20% over the past decade. The group has a significant presence in India's infrastructure sector and has been expanding its global footprint, with investments in Australia, Africa, and Southeast Asia. However, the group's controversial projects in Australia have attracted criticism and calls for boycotts from some sections of the public and activist groups.
Overall, the Adani Group's roadshow in Singapore was aimed at highlighting its growth strategy, financial health, and commitment to sustainability, and reassuring investors about its long-term prospects. The group's plans to expand its renewable energy portfolio and reduce its carbon emissions intensity are likely to appeal to investors who are looking for sustainable investment opportunities.