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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 $34 billion. The U.S. asset manager declined to comment on Tuesday, but chief executive Larry Fink wrote in January that “divesting from entire sectors… will not get the world to net zero.”
“Foresighted companies across a wide range of carbon intensive sectors are transforming their businesses, and their actions are a critical part of decarbonisation,” he wrote in a letter to fellow chief executives.
Comparative coal funding figures for previous years were not immediately available. Other research studies, however, have shown that coal investment is on the decline.
The coal sector is responsible for nearly half of global greenhouse gas emissions. More than 40 countries pledged to end coal use following climate talks in Glasgow in November, though major consumers such as China, India and the United States did not sign up.
But more China-invested overseas coal-fired power capacity was cancelled than commissioned since 2017, according to research from the Centre for Research on Energy and Clean Air (CREA) last June.
Furthermore, nearly all internationally available development financing is now committed to reducing or ending investment in coal-fired power after moves by China and the G20 to stop supporting new projects overseas, research from Boston University’s Global Development Policy Center showed in November.
Source: Reuters
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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- White Energy Company Limited
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
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