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