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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
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