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