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