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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
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