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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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Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
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- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- The University of Queensland
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Minerals Council of Australia
- McConnell Dowell - Australia
- PTC India Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
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