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