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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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- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
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