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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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Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
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- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
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