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Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even though many have made net-zero pledges, a report by a group of 28 non-government organisations showed.
Reducing coal use is a key part of global efforts to slash climate-warming greenhouse gases and bring emissions down to “net zero” by the middle of the century, and governments, firms and financial institutions across the world have pledged to take action.
But banks continue to fund 1,032 firms involved in the mining, trading, transportation and utilisation of coal, the research showed.
“Banks like to argue that they want to help their coal clients transition, but the reality is that almost none of these companies are transitioning,” said Katrin Ganswind, head of financial research at German environmental group Urgewald, which led the research. “And they have little incentive to do so as long as bankers continue writing them blank checks.”
The study said banks from six countries – China, the United States, Japan, India, Britain and Canada – were responsible for 86% of global coal financing over the period.
Direct loans amounted to $373 billion, with Japanese banks Mizuho Financial 8411.T, Mitsubishi UFJ Financial 8306.T – both members of the Net Zero Banking Alliance – identified as the two biggest lenders. Neither firm responded immediately to requests for comment.
Another $1.2 trillion was channelled to coal firms via underwriting. All of the top 10 underwriters were Chinese, with the Industrial and Commercial Bank of China 601398.SS (ICBC) in first place, accounting for $57 billion. It did not respond to a request for comment.
Institutional investments in coal firms over the period amounted to $469 billion, with BlackRock BLK.N at the top of the list with $34 billion. The U.S. asset manager declined to comment on Tuesday, but chief executive Larry Fink wrote in January that “divesting from entire sectors… will not get the world to net zero.”
“Foresighted companies across a wide range of carbon intensive sectors are transforming their businesses, and their actions are a critical part of decarbonisation,” he wrote in a letter to fellow chief executives.
Comparative coal funding figures for previous years were not immediately available. Other research studies, however, have shown that coal investment is on the decline.
The coal sector is responsible for nearly half of global greenhouse gas emissions. More than 40 countries pledged to end coal use following climate talks in Glasgow in November, though major consumers such as China, India and the United States did not sign up.
But more China-invested overseas coal-fired power capacity was cancelled than commissioned since 2017, according to research from the Centre for Research on Energy and Clean Air (CREA) last June.
Furthermore, nearly all internationally available development financing is now committed to reducing or ending investment in coal-fired power after moves by China and the G20 to stop supporting new projects overseas, research from Boston University’s Global Development Policy Center showed in November.
Source: Reuters
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Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
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- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Australian Coal Association
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
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