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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding for such plants since it began operations in 2016, Jin Liqun, president of the bank, said on Wednesday.
The bank has never funded any coal-fired projects, despite provisions for such financing, Jin said at the virtual 2021 Aspen Security Forum.
He was referring to AIIB’s 2017 Energy Sector Strategy, in which it pledged to “reduce the carbon intensity of energy supply” with “a sizable reduction in coal investments”. However, the strategy stated that the bank will consider financing coal-fired power plants if they replace existing ones with less efficient capacity or if no alternative exists.
“So next year, we may review or upgrade the energy strategy. My view is in the … updated strategy, coal definitely would be out,” he said, adding that the bank has been “more prudent” than what is stipulated in the energy strategy.
The bank is focused on developing Asia but has members from all over the world. It has a stated mission of building a green “Infrastructure for Tomorrow”, with sustainability, innovation and connectivity at its core.
Jin has led the Beijing-headquartered bank since it was founded in 2015 and started his second five-year term as president on Jan 16.
An earlier comment of Jin’s that the bank will not finance any coal project or other project “functionally related to coal” drew widespread attention as Asia’s coal reserves represent 38 percent of world’s total.
At the forum, Jin gave an example of AIIB turning down a power transmission project of a developing country that involved a coal-fired power plant, even though that plant was built with clean technology.
“We still turned it down, because the transmission line was to be linked to a coal-fired power plant,” he said.
Jin said the bank is committed to having 50 percent of financing directed to climate investments by 2025, up from about 40 percent now. The financing will go to clean technology, energy efficiency and other areas that help cut carbon emissions.
“Infrastructure investment in today’s world should be done in a way very much different from what it used to be; we have to do it in an environmentally benign way. … So we focus very much on renewables,” he said.
‘Integrated approach’
AIIB has opted to take an “integrated approach” to climate mitigation and adaptation, investing in areas like mass-transit systems to reduce the number of vehicles on the road, he added.
Since the outbreak of the COVID-19 pandemic, AIIB has focused on lending and budget support to countries asking for help. “In 2020, we invested $7 billion in dealing with COVID-19 to help these countries get back on their feet as soon as possible and get regular infrastructure projects moving forward,” he said.
Jin said the pandemic has accentuated the importance of social infrastructure. AIIB will still allocate a “suitable” proportion of resources to build up the healthcare systems of member countries.
The bank has approved at least $22 billion in loans for 108 projects over the past five years, during which its number of members expanded from 57 to 103, according to the AIIB’s 2020 annual report.
Source: China Daily
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Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
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- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
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- ICICI Bank Limited - India
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- Thiess Contractors Indonesia
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- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
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- Power Finance Corporation Ltd., India
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- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
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- Indian Energy Exchange, India
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- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
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- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
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- Baramulti Group, Indonesia
- Wilmar Investment Holdings
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- European Bulk Services B.V. - Netherlands
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