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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, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
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- Oldendorff Carriers - Singapore
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
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- London Commodity Brokers - England
- Tata Chemicals Ltd - India
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- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
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- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- PowerSource Philippines DevCo
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- European Bulk Services B.V. - Netherlands
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- Sojitz Corporation - Japan
- CNBM International Corporation - China
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- Commonwealth Bank - Australia
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- Asmin Koalindo Tuhup - Indonesia
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- Georgia Ports Authority, United States
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- Coalindo Energy - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
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- Interocean Group of Companies - India
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- Larsen & Toubro Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Chamber of Mines of South Africa
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- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
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- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
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- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Romanian Commodities Exchange
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- South Luzon Thermal Energy Corporation
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- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
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- Indonesian Coal Mining Association
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- Ministry of Transport, Egypt
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- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
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- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
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- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Minerals Council of Australia
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- Medco Energi Mining Internasional
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- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
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- SMC Global Power, Philippines
- White Energy Company Limited
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- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
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- Eastern Energy - Thailand
- Wilmar Investment Holdings
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- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
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