Rothschild & Co has decided not to advise India's Adani in the financing or...
Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad in this April 2, 2014 file photo. REUTERS/Amit Dave/Files
The bank is also not advising the firm on the planned sale of stake in the Abbot Point Coal export terminal, said the May 12 confidential letter to Friends of the Earth, France.The decision comes as banks and other financial institutions are facing increasing pressure to cut investments in coal, blamed for adding more carbon dioxide to the atmosphere than any other fuel, as the world moves to curb greenhouse gas emissions.
Friends of the Earth said in a statement on Tuesday that the decision by Rothschild came after several requests from Friends of the Earth and partner organizations.
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