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