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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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Economic Council, Georgia
- The University of Queensland
- PTC India Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
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