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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, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
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- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indika Energy - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Planning Commission, India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
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