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