Dieter Holger
April 19, 2021
An Adani Group building on the outskirts of Ahmedabad, India.PHOTO: AMIT DAVE/REUTERS
Adani Group says it halted transactions with a Myanmar military-linked company for a port project that it says doesn’t violate U.S. sanctions
A major index provider and some investors are distancing themselves from the marine-ports operator controlled by Indian conglomerate Adani Group over past business transactions with a company linked to the military regime in Myanmar.
Financial data firm S&P Global Inc. last week said it would remove Adani Ports & Special Economic Zone Ltd. from its Dow Jones Sustainability Indices, which consists of various different regional indexes holding companies that rank highly on environmental and social affairs. Adani Ports was among around 100 indexed companies in the emerging markets category.