Adani Group — Ethics Grade F

Adani Group receives an overall ethics grade of F (12/100) on CancelCo's corporate accountability database. Sector: Mining & Metals. Market cap: Large Cap.

Category scores

• labor: 30
• privacy: 80
• consumer: 40
• environment: 10
• humanRights: 20

Documented incidents (3)

• Stock Manipulation Allegations (high, 2023) — Hindenburg Research published a report alleging ‘brazen stock manipulation and accounting fraud’ spanning decades by the conglomerate.
• Great Barrier Reef Threat (high, 2021) — The development of the Carmichael coal mine in Australia faced worldwide protests for its climate impact and potential damage to the Great Barrier Reef.
• Over-Invoicing Allegations (medium, 2014) — Indian authorities investigated Adani for allegedly over-invoicing capital equipment imports to siphon money out of the country.

Documented good deeds

• Adani Green Solutions — Became one of the world's largest solar power developers through its green energy subsidiary.

Ethical alternatives

• Brookfield Renewable Partners — Focused exclusively on renewable energy assets with high governance rankings.