News Formal

Sustainalytics downgrades three Adani companies' governance scores

  • 📰 Reuters
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Sustainalytics downgraded corporate governance-related scores for three of India's Adani Group companies on ethics concerns, the sustainability ratings company said on Wednesday, citing questions a short-seller raised last month.

Other ESG ratings firms and index providers have revisited Adani in recent weeks. S&P said last week it would remove Adani companies from its Dow Jones Sustainability Indexes.

Among its downgrades this month, Sustainalytics assigned Adani Green Energy a "moderate" business ethics controversy score, citing the accounting issues, where no score was placed previously. Adani Total Gas Ltd and Adani Transmission Ltd also were judged to have a "moderate" business ethics controversy score, worse than previous "low" scores.

"The increasing financial and reputational risks stemming from the report by Hindenburg Research, as well as previous investigations and inquiries into the company’s activities, contribute to the negative outlook," Sustainalytics' report stated.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Adani group shares rally after $113 billion market wipeoutAdani group shares surged on Tuesday, a day after it moved to prepay some loans, in a relief rally for the Indian conglomerate that lost more than $113 billion in market value in two weeks since a U.S. short-seller's critical report was published. 😃
Source: Reuters - 🏆 2. / 97 Read more »

Adani vs Hindenburg: India market crisis is a political issue for ModiIndia's stock market crisis isn't just the Adani Group's problem - it's a political issue for Prime Minister Modi too If you duffers think that writing such articles you will influence public mood, then go and suck your paymasters.
Source: BusinessInsider - 🏆 729. / 51 Read more »