A New Dimension of Coal Divestment
We all know the coal industry is the number one driver of climate change, damages peoples’ health and destroys the environment. But do we really know which companies belong to the industry? And more importantly, do banks and investors know? Bending emissions toward a 1.5°C pathway will be impossible, unless the finance industry makes a speedy and full exit from the coal industry.
From our portfolio analyses and in-depth discussions with many major banks and insurers, we have reached the conclusion that financial institutions systematically underestimate their holdings in the coal industry. Even investors who have taken first steps down the divestment road, have not yet made a full exit from the industry. To address this blind spot, we have developed a unique divestment tool: The Global Coal Exit List (GCEL). It is a ‘Who is Who’ of the global coal industry and provides key statistics on 775 companies. The GCEL also identifies the companies which are planning new coal projects. It enables financial institutions to assess the ‘coal content’ of their portfolios, to avoid new coal investments and to accelerate their departure from the industry.
Our separate Coal Plant Developers Database highlights 120 companies whose coal power expansion plans should put them at the top of every divestment list.