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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, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- The University of Queensland
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
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