Adani Power scores 67 on S&P Global’s corporate sustainability list | Here’s why

New Delhi: Adani Group company Adani power scored 67 out of 100 on the Corporate Sustainability Assessment list brought by S&P Global. The rating agency produced scores for FY24, in which Adani Power ranked among the top 80 percentile. The average score on the list is 42, according to S&P. Moreover, Adani Power bettered its own FY23 score of 48 from FY23.

S&P Global’s CSA score measures a company’s performance. It aalso assesses the company’s ESG risk management framework. S&P assesses media disclosures, as well as stakeholder analysis to calculate the score.

Gautam Adani, Sagar Adani indicted by US SEC

The US SEC and a US district court indicted Adani group chairman Gautam Adani and his nephew and Adani Green Energy executive director Sagar Adani for allegedly raising funds from US investors to pay kickbacks to Indian officials for securing lucrative renewable power supply agreements.

Former Adani Green MD Vneet S Jaain was also indicted by the US markets regulator. Adani Group rejected the allegations as baseless and pledged to seek all possible legal recourse against the allegations. Adani Group said that US SEC allegations had severe repercussions for the group such as global project cancellations apart from a hit to its market valuation. Investors, partners and members of the public were also examining the group suddenly as a result of the allegations being made public.

Gautam Adani, Sagar Adani and Jaain have been indicted in relation to charges of alleged securities fraud conspiracy, wire fraud and securities fraud. The corruption indictment is related to Azure Power and executives at CPDQ, according to the ports-to-retail conglomerate’s allegations.

Adani Power share price history

Adani Poer’s share price rose 6.49 per cent on Thursdya. The company’s stock rose 17.86 per cent in the past 5 days. In the past month, Adani Power’s stock was down 6.89 per cent, and 17.96 per cent in the past 6 months. Over the past year, Adani Power’s share price rose over 24 per cent, according to exchange data.