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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
 Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whether Norway’s sovereign wealth fund should hold assets in coal and oil companies. The debate in Norway is part of the growing campaign for divestment of fossil fuel assets – and usually quite specifically coal.
At face value the divestment campaign appears to have some logic – we want to reduce the impact of fossil fuels on the environment and combat climate change, so we shouldn’t invest in them. That might sound fair enough, but the global energy system has more than just an environmental dimension. There are economic and social dimensions as well that mean divesting from fossil fuels – and in particular coal – comes with significant risks.
A few days before the working group meeting, BP released its Statistical Review of World Energy 2014 which showed coal’s share of global primary energy consumption in 2013 reached 30.1% – the highest since 1970. Coal was also the fastest growing fossil fuel, with coal consumption growing by 3%. Divesting from the world’s fastest growing fossil fuel doesn’t sound like a good investment strategy, but there are more significant reasons why a divestment approach is misguided.
Earlier this month the International Energy Agency released the World Energy Investment Outlook special report that highlighted the significant investment needed to secure the world’s energy system.
“While increased investor awareness of climate-related issues is a positive development, policies deliberately adverse to coal may have unintended consequences. In the 450 Scenario, which limits the global average temperature increase to 2°C, world investment in coal-fired capacity totals $1.9 trillion (25% higher than in the New Policies Scenario), of which $800 billion is for plants fitted with carbon capture and storage (CCS). Coal-fired power plants become more expensive on average because, in most regions, more efficient technologies are deployed, as well as greater emphasis on CCS technologies. If development banks withhold financing for coal-fired power plants, countries that build new capacity will be less inclined to select the most efficient designs because they are more expensive, consequently raising CO2 emissions and reducing the scope for the installation of CCS. In addition, many of the countries that build coal-fired capacity in the 450 Scenario need to provide electricity supply to those who are still without it, a problem that may be resolved less quickly if investment in coal-fired power plants cannot be financed.”
So from the development bank perspective there are two problems with not investing in coal – less efficient more polluting plants are built that may not be CCS ready; and countries with energy access challenges may have more difficulty eradicating poverty because they lack the necessary electricity.
To be sure, the IEA was talking about development bank financing, but the same argument applies to divesting from companies in the coal sector. Reduce investment in coal and investment in cleaner coal technologies comes under threat – a genuine problem when coal is the world’s fastest growing fossil fuel. Most importantly, according to the International Energy Agency, no climate change objective is achievable without deployment of carbon capture and storage. Taking investment out of the coal industry, whether it be from coal producers or power generators, significantly threatens their current and future investment in cleaner coal technologies, such as CCS.
In examining whether divestment is the right approach, the Norwegian expert group – and others considering these issues – need to be mindful of unintended consequences and not be persuaded by the fuzzy logic of the divestment campaigners.
- Benjamin Sporton, WCA Deputy Chief Executive -
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Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
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Showing 3621 to 3625 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
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