Coal Truck

Welcome to the Global Coal Exit List

The Global Coal Exit List (GCEL) is a unique, public database, which provides key statistics on companies throughout the entire thermal coal value chain. It aims to capture the world’s coal industry as a whole and serves as an information source and a divestment tool for the finance sector.

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Coal is the single biggest contributor to climate change, and phasing out investments in the coal industry is the single most important step financial institutions can take to protect our climate. According to the 2018 IPCC report, coal-fired power generation must decrease by 78% by 2030 if we want to keep the 1.5°C limit within reach. Achieving this goal requires immediate action by banks and investors.

The GCEL is a practical tool that enables financial institutions to identify the ‘coal content’ of their portfolios, to avoid new coal investments and to accelerate their departure from the coal industry. Since our database was first published in 2017, 200 financial institutions have become registered users of the GCEL. Many leading investors are now using our database not only to assess coal-related risks in their portfolios, but to plan and execute meaningful divestment steps.

The 2019 GCEL lists around 2,300 companies (parents and subsidiaries). It provides key information on these companies’ coal share of revenue (CSR), coal share of power production (CSPP), installed coal-fired capacity and annual coal production. It also identifies, which companies are planning an expansion of coal mining or coal power activities or are developing other coal infrastructure.

Our research mainly relies on public data provided by the companies themselves. Most of the information in the GCEL is extracted from companies’ reporting documents, investor presentations and their websites. Other important sources are publications by government agencies and stock exchanges.

Urgewald strives to facilitate impactful coal divestment and provide data on which financial institutions, academics, NGOs and journalists can rely on. We will continue refining the GCEL to incorporate new parameters and improve its data density. We aim to set the benchmark when it comes to capturing coal sector data and providing it in a way that is tailored to the needs of responsible investors.



Global Coal Exit List

Company Headquarter Absolute criteria Relative criteria Expansion criteria
Coal India Ltd
Bharat Coking Coal Ltd (BCCL) | Central Coalfields Ltd (CCL) | CIL NTPC Urja Private Ltd | Eastern Coalfields Ltd (ECL) | Mahanadi Coalfields Ltd (MCL) | Mahanadi Coal Railway Limited (MCRL) | Northern Coalfields Ltd (NCL) | South Eastern Coalfields Ltd (SECL) | Western Coalfields Ltd (WCL)
India >20MT csr
China Energy Investment Corporation (China Energy/ CHN Energy)
Beijing Guodian Power Co. Ltd. | Beijing Guohua Power Co. Ltd. | China Guodian Capital Holdings Ltd | China Guodian Co. Ltd. | China Shenhua Energy Co. Ltd. (CSEC/China Shenhua) | CSEC Guohua International Power Co. | GD Power Development Co. Ltd. | Guodian & Jiantou Inner Mongolia Energy Investment Co. Ltd. | Guodian Anhui Power Co. Ltd. | Guodian Changyuan Electric Power Co Ltd | Guodian Changzhou Power Co Ltd | Guodian Chengdu Jintang Power Co Ltd | Guodian Fengcheng Power Generation Co Ltd | Guodian Fujian Power Co Ltd | Guodian Fengcheng Coal indeustry Co. Ltd. | Guodian Henan Power Co Ltd | Guodian Inner Mongolia Energy Co. Ltd. | Guodian Inner Mongolia Power Co Ltd | Guodian Jiangxi Power Generation Co. Ltd. | Guodian Jilin Longhua Thermoelectricity Co. Ltd. | Guodian Karamay Power Company | Guodian Ledong Power Co Ltd | Guodian Northeast Electric Power Co. Ltd. | Guodian Shaanxi Power Co Ltd | Guodian Sichuan Power Generation Co. Ltd. | Guodian Xinjiang Power Co Ltd | Guodian Younglight Energy Chemical Group Co Ltd | Hero Asia Investment Ltd | Inner Mongolia Pingzhuang Coal Group Ltd | Inner Mongolia Pingzhuang Energy Co Ltd | National Energy Group Heze Power Co Ltd | National Energy Group Jiangsu Power Co Ltd | National Energy Group Shandong Power Co. Ltd. | National Energy Group Taizhou Power Generation Co Ltd | Sanhe Power Gerneration Co. Ltd. | Shaanxi Shenyan Coal Co. Ltd. | Guodian Tongling Power Generation Co Ltd | Shandong Zhonghua Power Generation Co. Ltd. | Shanxi Province JINSHEN Energy Co Ltd | Shenhua (Fujian) Energy Co Ltd | Shenhua Baorixile Energy Industrial Co Ltd | Shenhua Guoneng Group Co. Ltd. (Shenhua Shendong Power Co. Ltd.) | Shenhua Hangjin Energy Co Ltd | Shenhua International (Hong Kong) Ltd | Shenhua Ningxia Coal Industry Group Co Ltd | Shenhua Shendong Coal Group Co Ltd | Shenhua Sichuan Energy Co Ltd | Shenhua Wuhai Energy Co Ltd | Shenhua Xinjie Energy Co Ltd | Shenhua Zhunneng Energy Group | Shenwan Energy Co Ltd | Yuanbaoshan Power Generation Co Ltd
China >20MT, >10GW csr | cspp
Peabody Energy Corp
Peabody Energy Australia Coal Pty Limited
USA >20MT csr
Shandong Energy Group Co Ltd
Feicheng Mining Group Co Ltd | Feicheng Mining Group Liangbaosi Energy Co. Ltd. | Rocklands Richfield Ltd | Shandong Energy Guizhou Mining Co Ltd | Shandong Energy Inner Mongolia Shenglu Energy& Chemical Co Ltd | Shandong Energy Linyi Mining Group Co Ltd | Shandong Energy Longkou Mining Group Co Ltd | Shandong Energy Xinwen Mining Group Co Ltd | Shandong Energy Zaozhuang Mining Group Co Ltd | Shandong Energy Zibo Mining Group Co Ltd | Zaozhuang Bayi Coal Water Slurry Thermal Power Co. Ltd.
China >20MT csr
Shaanxi Coal and Chemical Industry Group Co Ltd
Datang Lueyang Power Generation Co | Fugu Energy Investment Co Ltd | Huangling Mining Group Co Ltd | Meixin Industry Investment Co | Shaanxi Binchang Mining Group Co Ltd | Shaanxi Coal Industry Co Ltd | Shaanxi Qingshuichuan Energy Co. Ltd. | Shaanxi Tongchuan Mining Co Ltd | Shenmu Hongliulin Mining Co Ltd
China >20MT, >10GW csr | cspp
Yankuang Group Co Ltd
Ashton Coal Operations Ltd (ACOL) | Coal & Allied Industries Ltd | Austar Coal Mine Pty Ltd | Hunter Valley Operations (HVO) | Middlemount Coal Pty Ltd | Moolarben Coal Mines Pty Ltd | Shandong Hua Ju Energy Co Ltd (Hua Ju Energy) | Yancoal Australia Ltd | Yancoal International (Holding) Co Ltd | Yanmei Heze Energy & Chemistry Co | Yanzhou Coal Industry Ordos Energy Chemical Co. Ltd. | Yanzhou Coal Industry Shanxi Energy Chemical Co. Ltd. | Yanzhou Coal Industry Yulin Energy Chemical Co. Ltd. | Yanzhou Coal Mining Co Ltd | Yarrabee Coal Company Pty. Ltd.
China >20MT csr
Datong Coal Mine Group Co Ltd
Datong Coal Industry Co Ltd | Shanxi Zhangze Electric Power Co
China >20MT, >10GW csr | cspp
Glencore PLC
ALBIS CAPITAL CORP | ARM Coal | Bulga Coal Pty Ltd | Cerrejón Coal Ltd | CMC - Coal Marketing Co Ltd | CRA FINANCE LTD | Glencore Finance (Europe) Ltd. | Glencore Finance (Europe) SA | Glencore Funding LLC | Goedgevonden (GGV) | Hunter Valley Operations | Liddell Coal Operations Pty Ltd | Mt Owen Pty Ltd | Participative Coal Business (PCB) | Prodeco Group | Ravensworth Operations Pty Ltd | Ulan Coal Mines Ltd
Switzerland >20MT csr
JSC SUEK Group (Siberian Coal Energy Company)
Limited Liability Company Kuzbassenergo-Finance | OAO Siberian Energy Company (Sibeco) | OJSC Primorskugol | OOO Kuzbassenergo-Finans | Siberian Generation Company (SGC) | SUEK AG | SUEK Polska Sp. z o.o.
Russia >20MT, >10GW cspp
China National Coal Group Corp (ChinaCoal)
China Coal Energy Co Ltd | China Coal Pingshuo Coal Co Ltd | China Coal Xinji Energy Co Ltd | ChinaCoal Shanxi Huayu Energy | Shanghai Datun Energy Resources Co Ltd | Zhongtian Hechuang Energy Co Ltd
China >20MT, >10GW csr | cspp
Shanxi Coking Coal Group Co Ltd
Wuxiang Xishan Power Generation Co. Ltd. | Xishan Coal Electricity Group Co Ltd
China >20MT csr | cspp
BGE Beteiligungs-Gesellschaft für Energieunternehmen mbH Essen | Grosskraftwerk Mannheim | innogy Finance BV | RheinEnergie AG | RWE Generation SE | RWE Power AG | RWE Supply & Trading GmbH Essen
Germany >20MT, >10GW csr | cspp
PT Bumi Resources Tbk
Bumi Capital Pte Ltd | PT Arutmin Indonesia | PT Kaltim Prima Coal (KPC) | PT Pendopo Energi Batubara
Indonesia >20MT csr
Arch Coal Inc
Arch Coal Asia-Pacific Pte Ltd | Arch Coal Sales Inc | Knight Hawk Coal LLC
USA >20MT csr
State Power Investment Corporation (SPIC)
China Power Hub Generation Company | China Power International Development Ltd | China Power Investment Corp Ningxia Qingtongxia Energy Aluminium Group | CPI RONGHE FINANCIAL LEA | EMBA Electricity Production Co Inc (Emba Elektrik Üretim A.Ş.) | Guizhou Qiandong Power Co Ltd | Guizhou Xishui Dingtai Energy Development Co Ltd | Huaihu Coal Electricity Co Ltd | Huolinhe Opencut Coal Industry Co Ltd of Inner Mongolia | Inner Mongolia Huomei Hongjun Aluminum & Power Co Ltd | National Electric Investment Group Xinjiang Energy & Chemical Co. Ltd | Jiangsu Changshu Power Generation Co Ltd | SDEPCI (Shandong Electric Power Engineering Consulting Institute) | Shanghai Electric Power Co Ltd | Shanxi Zhangze Electric Power | Shijiazhuang Dongfang Thermal Power Group Co. Ltd. | SPIC Gansu Electric Power Sales Co Ltd | SPIC Guizhou Jinyuan Group Co | SPIC Hebei Power Electric Power Co Ltd | SPIC Henan Electric Power Co Ltd | SPIC Jiangxi Electric Power Co Ltd | SPIC Jilin Electric Power Co Ltd | SPIC Mengdong Energy Group | SPIC Ningxia Energy & Aluminum Co Ltd | SPIC Northeast Electric Power Co Ltd | SPIC Shanxi Aluminum Co. Ltd. | SPIC Xinjiang Energy Chemistry Group Co
China >20MT, >10GW csr | cspp
Jinneng Group Co Ltd
Shanxi Coal Transportation and Sales Group | Shanxi Guojin Power | Shanxi International Electricity Group Ltd Co | Shanxi Province JINSHEN Energy Co Ltd | Shanxi Province JINSHEN Energy Co Ltd | Top Energy Company Ltd. Shanxi
China >20MT cspp
Shanxi Lu'an Mining Industry (Group) Co Ltd
Lu'an Xinjiang Coal Chemical (Group) Co. Ltd. | Shanxi Lu'An Environmental Energy Development Co. Ltd. | Shanxi Lu'an Group Xingguang Coal Power Co. Ltd. | Xinjiang Lu'an Energy Chemistry Co
China >20MT csr
China Huaneng Group Co. Ltd.
China Huaneng Finance Co | China Huaneng Yimin Coal-Electricity Co Ltd | Huaneng Capital Services Co Ltd | Huaneng Coal Co Ltd | Huaneng Gansu Energy Development Co. Ltd. | Huaneng Hainan Power Co Ltd | Huaneng Hong Kong Capital Ltd | Huaneng Hulunbeier Energy Development Co Ltd | Huaneng International Power Development Corporation | Huaneng Jilin Power Co Ltd | Huaneng Ningxia Energy Co Ltd | Huaneng Power International INC. | Huaneng Qinghai Power Co Ltd | Huaneng Shaanxi Power Co Ltd | Huaneng Shandong Power Co Ltd | Huaneng Shanxi Taihang Power Co. Ltd. | Huaneng Xinjiang Energy Development Co Ltd | HUANENG TIANCHENG FIN | Huating Coal Group Co Ltd | Inner Mongolia MengDian HuaNeng Thermal Power Co. Ltd. | North United Power Co Ltd
China >20MT, >10GW csr | cspp
Henan Energy and Chemical Industry Group Co Ltd
Hebi Coal Industry (Group) Co Ltd | Hebi Fenghe Power Generation Co Ltd | Henan Dayou Energy Co Ltd | U&D Mining Industry (Australia) Pty Ltd | Yima Coal Industry Group Co Ltd | Yongcheng Coal and Electricity Holding Group Co.Ltd.
China >20MT csr
Yangquan Coal Industry (Group) Co Ltd
Tongde Aluminum Co Ltd | Yangmei Chemical Co. Ltd. | Yangquan Coal Industry (Group) Co. Ltd.
China >20MT csr | cspp

For Investors – Get the list with ISIN codes

We provide a special version of the Global Coal Exit List with common financial identifiers (ISIN, Bloomberg Ticker, etc.) on request. We also offer in-depth webinars on the list.

What's so special about the Global Coal Exit List?

We also list private companies that engage in coal-related business activities, which is especially valuable to insurance companies.

Users of the Global Coal Exit List

Our database has more than 200 registered users from the finance sector.
Financial Institutions representing nearly US$ 10 trillion Assets under Management are applying one ore more of the Global Coal Exit List criteria.

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