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