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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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Thursday, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
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- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Planning Commission, India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- The University of Queensland
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
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