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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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Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- White Energy Company Limited
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
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