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