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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, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
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- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
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