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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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Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
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