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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 $34 billion. The U.S. asset manager declined to comment on Tuesday, but chief executive Larry Fink wrote in January that “divesting from entire sectors… will not get the world to net zero.”
“Foresighted companies across a wide range of carbon intensive sectors are transforming their businesses, and their actions are a critical part of decarbonisation,” he wrote in a letter to fellow chief executives.
Comparative coal funding figures for previous years were not immediately available. Other research studies, however, have shown that coal investment is on the decline.
The coal sector is responsible for nearly half of global greenhouse gas emissions. More than 40 countries pledged to end coal use following climate talks in Glasgow in November, though major consumers such as China, India and the United States did not sign up.
But more China-invested overseas coal-fired power capacity was cancelled than commissioned since 2017, according to research from the Centre for Research on Energy and Clean Air (CREA) last June.
Furthermore, nearly all internationally available development financing is now committed to reducing or ending investment in coal-fired power after moves by China and the G20 to stop supporting new projects overseas, research from Boston University’s Global Development Policy Center showed in November.
Source: Reuters
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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
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