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