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. 

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.

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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.



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.
Company Headquarter Absolute criteria Relative criteria Expansion criteria
Tigers Realm Coal Ltd
Australia csr
Tohoku Electric Power Co Inc
Joban Joint Power Co | Sakata Kyodo Electric Power Co | Soma Kyodo Power
Japan cspp
Toyo Ink Group Berhad
TransNamib Holdings Limited
TTCL Public Company Limited (TTCL)
UBE-C&A Co Ltd
Japan cspp
Unicorn Capital Partners Ltd
South Africa csr
Uniper SE
Uniper Kraftwerke Gmbh | Uniper UK Ltd | Unipro PJSC
Germany >10GW
Unique Mining Services Public Co Ltd
Thailand csr
Uroica Precision Information Engineering Co.Ltd
China csr
Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL)
Jawaharpur Vidyut Utpadan Nigam | Meja Urja Nigam Private Limited (MUNPL) | NLC Uttar Pradesh Power
India csr | cspp
Veolia Polska SA
Poland cspp
Vietnam Electricity Corporation (EVN)
Electricity of Vietnam | EVN Genco No 1 | EVN Genco No 2 | EVN Genco No 3 | Pha Lai Thermal Power JSC | Quang Ninh Thermal Power JSC
Vietnam cspp
Vietnam Oil and Gas Group (PetroVietnam)
Vietnam cspp
Vivant Corporation
Abovant Holdings Inc (AHI) | Cebu Energy Development Corporation (CEDC) | Global Luzon Energy Development Corporation (GLEDC) | Lunar Power Core Inc (LPCI) | Minergy Power Corporation (MPC) | Therma Visayas Inc (TVI) | Vivant Energy Corporation (VEC) | Vivant Integrated Generation Corp (VIGC)
Philippines csr | cspp
Volta River Authority
Vostochny Port JSC
Russia csr
Waratah Coal Pty Ltd
WEC Energy Group Inc
We Energies | We Power LLC | Wisconsin Public Service
USA cspp

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