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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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Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
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 ...
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Showing 3641 to 3645 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
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