Banks, investors turn a blind eye to SBI's Carmichael link

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By Jon Hay
06 Jan 2021

State Bank of India successfully raised $600m with a bond issue underwritten by leading investment banks on Wednesday, just weeks after big investors divested from its green bonds because of its apparent intention to finance the controversial Carmichael coal mine being developed in Australia.

The transaction raises questions about how serious banks and investors are about avoiding financing new coal infrastructure — the sharp end of the fossil fuel industry, which environmentalists believe is the first part that must cease if there is to be any hope of preventing disastrous climate change.

The ...

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