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