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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, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
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- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
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