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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, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
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