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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, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
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- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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