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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
IEEFAThe biggest buyers of Australian thermal coal have committed to net-zero emissions

ANZ, Australia’s third largest bank, has decided to stop lending to the Port of Newcastle, the world’s largest thermal coal export terminal, under its new climate change policy to cut funding to the coal sector, including the associated infrastructure and service providers.
 
To look at the background to the bank’s divestment, Barometer’s Des Lawrence spoke with IEEFA’s Tim Buckley, Director of Energy Finance, Australia/South Asia.
 
Buckley says ANZ made an “entirely pragmatic decision” due to concerns that the port’s legal constraint, imposed by the NSW Premier, prevents it from diversifying – such that the port will become a stranded asset as the world rapidly moves away from thermal coal. A point that was made abundantly clear when the biggest buyers of Australian thermal coal, Japan, China and South Korea, committed to net-zero emissions last year.
 
“ANZ has a fiduciary duty to manage the risk-adjusted returns for all of its shareholders. It has to make sure that it is not financing stranded assets and left holding the can when ultimately the business it is financing is unable to deliver the returns it promised, pay the interest it committed to paying and most importantly, take back the capital involved,” he says.
 
“This is harsh, but all about a long-term capital management strategy.”


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Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...


Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
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Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN),  on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...


Friday, 08 January 21
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The focus should be on helping manufacturers become globally competitive Although one of the top 10 solar module producers in the world, India ...


Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...


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