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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, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
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- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
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