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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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Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
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