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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, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
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- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
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