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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, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
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- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Planning Commission, India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
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