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