Adani and Société Générale: the French Financial Markets Authority must act

Reclaim Finance argues that Société Générale is engaging in greenwashing by using a policy loophole to finance Adani Green Energy, despite the Adani Group's extensive coal expansion plans in India and Australia and various legal scandals involving its leadership.

• Société Générale continues to provide financial support to the Adani Group by utilizing a loophole in its 2020 coal policy, which excludes products and services "exclusively dedicated to the energy transition". This allows the bank to finance Adani Green Energy even though funds may be redirected to other Adani Group entities involved in coal expansion.
• The Adani Group intends to significantly increase its coal capacity, planning to add 20,550 MW of coal-fired power generation in India over the next four years—surpassing its current capacity of 17,510 MW—and expanding coal mining in India and Australia from 11.2 million tonnes to over 100 million tonnes annually.
• The Adani Group and its CEO, Gautam Adani, have faced severe allegations and legal actions, including accusations of stock market manipulation and accounting fraud by Hindenburg Research, and a US indictment for a $265 million bribery scheme to secure solar energy contracts in India.
• Société Générale has declined to comment on allegations against Adani, citing legal and contractual confidentiality obligations during its last Annual General Meeting.

APA

Martin, L. (2025). Adani and Société Générale: the French Financial Markets Authority must act. Reclaim Finance. https://reclaimfinance.org/site/en/2025/06/03/adani-and-societe-generale-the-french-financial-markets-authority-must-act/

Chicago

Martin, Léo. Adani and Société Générale: the French Financial Markets Authority must act. Reclaim Finance, 2025. https://reclaimfinance.org/site/en/2025/06/03/adani-and-societe-generale-the-french-financial-markets-authority-must-act/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Adani and Société Générale: the French Financial Markets Authority must act |publisher=Reclaim Finance |date=3 June 2025 |url=https://reclaimfinance.org/site/en/2025/06/03/adani-and-societe-generale-the-french-financial-markets-authority-must-act/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2025adani, author = {Martin, Léo}, title = {{Adani and Société Générale: the French Financial Markets Authority must act}}, publisher = {Reclaim Finance}, year = {2025}, month = jun, url = {https://reclaimfinance.org/site/en/2025/06/03/adani-and-societe-generale-the-french-financial-markets-authority-must-act/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }