On 17 January 2017 Bettercoal announce that JERA Trading has joined the initiative and is its first Member in Asia.
JERA Trading demonstrates leadership by joining the only global coal supply chain initiative with the aim to promote the continuous improvement of corporate responsibility in the coal supply chain. Until now, Bettercoal Regular Members were major European utilities. JERA Trading is the first Japanese controlled company to join Bettercoal, allowing the initiative to expand its membership to the Asian market.
Anne-Claire Howard, Executive Director of Bettercoal said: ‘Bettercoal’s aim is to build a more responsible coal supply chain globally. We believe that welcoming a company with such a strong presence in Asia and in coal markets will enable us to further broaden the global reach of Bettercoal and ensure we grow our footprint in markets where coal still plays a significant role in energy production. JERA Trading joining Bettercoal will lead to more coal producers going through our Assessment Process leading to a more responsible production of coal.’
Ronan Lory, Managing Director JERA Trading said: ‘JERA Trading is committed to being a responsible coal supplier and operator and is delighted to join the Bettercoal initiative to contribute to and gain from exchanges on best practices in this field. We look forward to a mutually beneficial experience.’
The initiative is open for membership to major coal users from anywhere in the world, including energy utilities and industrial players such as cement manufacturers and steel makers.
Bettercoal is a global not-for-profit membership-based organisation set up to advance Continuous Improvement of corporate social responsibility, including social, environmental and ethical practices, in the coal supply chain. Its vision is a coal supply chain that protects the environment, respects the rights of the people and contributes to the livelihoods of workers and communities.
JERA Trading (JERAT) is a jointly owned company two third by JERA Trading International Pte. Ltd., a wholly owned subsidiary of JERA Co. Inc. which is an equal joint venture between two major Japanese electric power companies, TEPCO Fuel & Power (TEPCO) and Chubu Electric Power Company (Chubu), and one third by EDF Trading. JERAT is responsible for the global coal procurement of Chubu, TEPCO and EDF. It operates an integrated coal and freight supply chain and has benefited from EDF Trading’s expertise in energy commodity trading and risk management to minimise the costs and optimise the revenues associated with the delivery of coal requirements of its shareholders and third party customers. JERAT is one of the leading utility-backed coal traders globally with a presence in both the Atlantic and Pacific basins. It operates in all major coal and freight markets (Europe, Asia, North and South America) and trades both physical and financial products. JERAT is headquartered in Singapore with offices in London and in Maryland.