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Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even though many have made net-zero pledges, a report by a group of 28 non-government organisations showed.
Reducing coal use is a key part of global efforts to slash climate-warming greenhouse gases and bring emissions down to “net zero” by the middle of the century, and governments, firms and financial institutions across the world have pledged to take action.
But banks continue to fund 1,032 firms involved in the mining, trading, transportation and utilisation of coal, the research showed.
“Banks like to argue that they want to help their coal clients transition, but the reality is that almost none of these companies are transitioning,” said Katrin Ganswind, head of financial research at German environmental group Urgewald, which led the research. “And they have little incentive to do so as long as bankers continue writing them blank checks.”
The study said banks from six countries – China, the United States, Japan, India, Britain and Canada – were responsible for 86% of global coal financing over the period.
Direct loans amounted to $373 billion, with Japanese banks Mizuho Financial 8411.T, Mitsubishi UFJ Financial 8306.T – both members of the Net Zero Banking Alliance – identified as the two biggest lenders. Neither firm responded immediately to requests for comment.
Another $1.2 trillion was channelled to coal firms via underwriting. All of the top 10 underwriters were Chinese, with the Industrial and Commercial Bank of China 601398.SS (ICBC) in first place, accounting for $57 billion. It did not respond to a request for comment.
Institutional investments in coal firms over the period amounted to $469 billion, with BlackRock BLK.N at the top of the list with $34 billion. The U.S. asset manager declined to comment on Tuesday, but chief executive Larry Fink wrote in January that “divesting from entire sectors… will not get the world to net zero.”
“Foresighted companies across a wide range of carbon intensive sectors are transforming their businesses, and their actions are a critical part of decarbonisation,” he wrote in a letter to fellow chief executives.
Comparative coal funding figures for previous years were not immediately available. Other research studies, however, have shown that coal investment is on the decline.
The coal sector is responsible for nearly half of global greenhouse gas emissions. More than 40 countries pledged to end coal use following climate talks in Glasgow in November, though major consumers such as China, India and the United States did not sign up.
But more China-invested overseas coal-fired power capacity was cancelled than commissioned since 2017, according to research from the Centre for Research on Energy and Clean Air (CREA) last June.
Furthermore, nearly all internationally available development financing is now committed to reducing or ending investment in coal-fired power after moves by China and the G20 to stop supporting new projects overseas, research from Boston University’s Global Development Policy Center showed in November.
Source: Reuters
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Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
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