S&P Dow Jones is knocking Adani Enterprises off its sustainability index

The India flag in front of the Adani Group headquarters in Ahmedabad, India, on Wednesday, Feb. 1, 2023.

Dhiraj Singh | Bloomberg | Getty Images

Adani Enterprises is coming off the Dow Jones Sustainability Indices, effective Feb. 7, S&P said in an announcement.

Become a ySense member and start earning today totally free !

“Adani Enterprises will be removed from the Dow Jones Sustainability Indices following a Media & Stakeholder Analysis triggered by allegations of stock manipulation and accounting fraud,” it said in a one-line notice.

Adani Enterprises was added to the Dow Jones Sustainability Emerging Markets Index as of Dec. 19, 2022, according to a list of components on S&P Global’s website.

Adani did not respond to CNBC’s request for comment. Shares traded 30% lower during Mumbai’s trading session on Friday.

The Dow Jones Sustainability Indices (DJSI) rank companies in 61 industries, scoring them based on their responses to questionnaires called the S&P Global Corporate Sustainability Assessment.

The indices serve as benchmarks for investors who “integrate sustainability considerations into their portfolios,” according to the S&P Global website. They are designed to serve as an “effective engagement platform for investors who wish to encourage companies to improve their corporate sustainability practices.”

Source link


Related Articles

Back to top button