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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding for such plants since it began operations in 2016, Jin Liqun, president of the bank, said on Wednesday.
The bank has never funded any coal-fired projects, despite provisions for such financing, Jin said at the virtual 2021 Aspen Security Forum.
He was referring to AIIB’s 2017 Energy Sector Strategy, in which it pledged to “reduce the carbon intensity of energy supply” with “a sizable reduction in coal investments”. However, the strategy stated that the bank will consider financing coal-fired power plants if they replace existing ones with less efficient capacity or if no alternative exists.
“So next year, we may review or upgrade the energy strategy. My view is in the … updated strategy, coal definitely would be out,” he said, adding that the bank has been “more prudent” than what is stipulated in the energy strategy.
The bank is focused on developing Asia but has members from all over the world. It has a stated mission of building a green “Infrastructure for Tomorrow”, with sustainability, innovation and connectivity at its core.
Jin has led the Beijing-headquartered bank since it was founded in 2015 and started his second five-year term as president on Jan 16.
An earlier comment of Jin’s that the bank will not finance any coal project or other project “functionally related to coal” drew widespread attention as Asia’s coal reserves represent 38 percent of world’s total.
At the forum, Jin gave an example of AIIB turning down a power transmission project of a developing country that involved a coal-fired power plant, even though that plant was built with clean technology.
“We still turned it down, because the transmission line was to be linked to a coal-fired power plant,” he said.
Jin said the bank is committed to having 50 percent of financing directed to climate investments by 2025, up from about 40 percent now. The financing will go to clean technology, energy efficiency and other areas that help cut carbon emissions.
“Infrastructure investment in today’s world should be done in a way very much different from what it used to be; we have to do it in an environmentally benign way. … So we focus very much on renewables,” he said.
‘Integrated approach’
AIIB has opted to take an “integrated approach” to climate mitigation and adaptation, investing in areas like mass-transit systems to reduce the number of vehicles on the road, he added.
Since the outbreak of the COVID-19 pandemic, AIIB has focused on lending and budget support to countries asking for help. “In 2020, we invested $7 billion in dealing with COVID-19 to help these countries get back on their feet as soon as possible and get regular infrastructure projects moving forward,” he said.
Jin said the pandemic has accentuated the importance of social infrastructure. AIIB will still allocate a “suitable” proportion of resources to build up the healthcare systems of member countries.
The bank has approved at least $22 billion in loans for 108 projects over the past five years, during which its number of members expanded from 57 to 103, according to the AIIB’s 2020 annual report.
Source: China Daily
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Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
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