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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
IEEFAThe biggest buyers of Australian thermal coal have committed to net-zero emissions

ANZ, Australia’s third largest bank, has decided to stop lending to the Port of Newcastle, the world’s largest thermal coal export terminal, under its new climate change policy to cut funding to the coal sector, including the associated infrastructure and service providers.
 
To look at the background to the bank’s divestment, Barometer’s Des Lawrence spoke with IEEFA’s Tim Buckley, Director of Energy Finance, Australia/South Asia.
 
Buckley says ANZ made an “entirely pragmatic decision” due to concerns that the port’s legal constraint, imposed by the NSW Premier, prevents it from diversifying – such that the port will become a stranded asset as the world rapidly moves away from thermal coal. A point that was made abundantly clear when the biggest buyers of Australian thermal coal, Japan, China and South Korea, committed to net-zero emissions last year.
 
“ANZ has a fiduciary duty to manage the risk-adjusted returns for all of its shareholders. It has to make sure that it is not financing stranded assets and left holding the can when ultimately the business it is financing is unable to deliver the returns it promised, pay the interest it committed to paying and most importantly, take back the capital involved,” he says.
 
“This is harsh, but all about a long-term capital management strategy.”


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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...


Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years   In 2020, total consumption of fossil fuels in t ...


Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...


Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...


Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology Japan is continuing to push its expensive c ...


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