What ESG Tells Us About Adani

The Adani Group was rising along with India’s economy. Then a little known US short seller perhaps aptly named Hindenburg released a report that accused the Group of some pretty damaging business practices. Adani said the report was bogus, the market reached anyway, and now one of the most important companies in India is fighting investor perception. But how did this happen? Weeks ago, Adani Group seemed like a stable growth story. Yet, when it comes to Governance, ESG saw some risky signs in Adani Group and companies like it years ago. We explore what those vulnerabilities were, and why they might have left Adani Group susceptible to attack by a small, previously unknown short seller.