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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, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
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- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Planning Commission, India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
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