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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, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Agrawal Coal Company - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
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