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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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Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
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- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- MS Steel International - UAE
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
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