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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, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
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- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Minerals Council of Australia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
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