US bank stops financial aid to Adani's coal mine

The Bank of New York Mellon Corporation has decided to stop funding to the Adani Group and its Carmichael coal mine in Australia. He said that this project is not appropriate from an environmental, social, and governance point of view. The US investment bank is the first financial institution to pull out of the project after protests by local people. BNY Melan said, we have reviewed our relationship with the Adani Group and have decided to withdraw from all transactions with the Group in Australia. This project is not fair from an environmental, social, and governance point of view.