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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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- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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