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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, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
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- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
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