Adani Group's problems continue to make news in 2019

“The commerciality of Adani’s Carmichael mine remains challenging given the significant capital spend and low-quality thermal coal product expected from the mine,” said Brent Spalding, a principal analyst at Wood Mackenzie." [Financial Review, 9 July 2019]

"Adani allowed stormwater discharges from the port in March 2017 (to the marine environment and to the Caley Valley Wetlands) and again in February 2019 (to the wetlands) in excess of licence limits.....In February 2019, Adani announced it had again discharged stormwater into the Caley Valley Wetlands in excess of its EA limit. Government investigations also confirmed the exceedance, and Adani paid an infringement fine of $13,055 for the breach." [Environmental Defenders Office Qld, 23 May 2019]

"....Abbot Point Bulkcoal Pty Ltd, an Adani subsidiary, for a substantial exceedance of a license to pollute the Great Barrier Reef World Heritage Area with coal dust when Cyclone Debbie made landfall in 2017, even though the license was granted specifically to account for possibly increased emissions resulting from the cyclone. During the course of this prosecution, the DEHP discovered that Abbot Point Bulkcoal Pty Ltd may have submitted an altered laboratory report showing reduced levels of pollution." [Environmental Justice Australia, March 2019]

ABC News, 13 August 2019: 

The announcement by Suncorp that it will no longer insure new thermal coal projects, along with a similar announcement by QBE Insurance a few months earlier, brings Australia into line with Europe where most major insurers have broken with coal.

US firms have been a little slower to move, but Chubb announced a divestment policy in July, and Liberty has confirmed it will not insure Australia's Adani project.

Other big firms such as America's AIG are coming under increasing pressure.

Even more than divestment of coal shares by banks and managed funds, the withdrawal of insurance has the potential to make coal mining and coal-fired power generation businesses unsustainable.

As the chairman and founder of Adani Group, Gautam Adani, has shown in Queensland's Galilee Basin, a sufficiently rich developer can use its own resources to finance a coal mine that banks won't touch.

But without insurance, mines can't operate. 

(Adani claims to have insurers for the Carmichael project, but has declined to reveal their names.) 

By the nature of their business, insurers cannot afford to indulge the denialist fantasies still popular in some sectors of industry. 

Damage caused by climate disasters is one of their biggest expenses, and insurers are fully aware that damage is set to rise over time......