Who are the Banks & Investors behind the Global Coal Plant Pipeline?
Despite global consensus about the need for a timely coal phase-out, new coal plants are still being planned or developed in 60 countries around the world. If built, these projects would add over 570 GW to the global coal plant fleet, an increase of 28%. Based on findings of the Global Energy Monitor, the 2019 GCEL identifies 258 Coal Plant Developers, with expansion plans of at least 300 MW. Over half of these companies are not traditional coal-based utilities, and are therefore often missed by financial institutions’ coal exclusion policies.
Together with our partners, Banktrack, Les Amis de la Terre, Re:common and RAN, Urgewald commissioned financial research by the Dutch research institute Profundo to identify the main financiers and investors of these Coal Plant Developers.
We found 505 global banks provided US$ 745 billion for expanding coal power companies through loans or underwriting services from 2017 – Q3 2019. And as of September 2019, 1922 investors are holding bonds and shares worth almost US$ 276 billion in coal plant developers.
Please browse the data below and find more information in our media briefing. A list of all Coal Plant Developers is available for download after login!
Aboitiz Equity Ventures
Related Investors
| Investor | Country of HQ | Shareholding (Mio $) | Bondholding (Mio $) Sort descending | Total (Mio $) |
|---|---|---|---|---|
| Pictet | Switzerland | 1,67 | 1,67 | |
| Swiss Rock Asset Management | Switzerland | 0,13 | 0,13 | |
| Aviva | United Kingdom | 0,54 | 0,54 | |
| Victory Capital | United States | 0,05 | 0,05 | |
| Sumitomo Mitsui Trust | Japan | 0,24 | 0,24 | |
| Sanlam | South Africa | 0,02 | 0,02 | |
| California Public Employees' Retirement System (CalPERS) | United States | 6,98 | 6,98 | |
| Prudential (UK) | United Kingdom | 1,60 | 1,60 | |
| Fidelity Investments | United States | 0,12 | 0,12 | |
| Tredje AP-Fonden (AP3) | Sweden | 0,51 | 0,51 | |
| Nykredit Group | Denmark | 0,05 | 0,05 | |
| Banque Degroof Petercam | Belgium | 0,23 | 0,23 | |
| Glovista Investments | United States | 0,02 | 0,02 | |
| Geode Capital Holdings | United States | 4,30 | 4,30 | |
| JPMorgan Chase | United States | 1,46 | 1,46 | |
| Royal Bank of Canada | Canada | 0,10 | 0,10 | |
| Inspire Investing | United States | 0,48 | 0,48 | |
| Danske Bank | Denmark | 0,04 | 0,04 | |
| Svenska Handelsbanken | Sweden | 0,20 | 0,20 | |
| Resona Holdings | Japan | 0,01 | 0,01 | |
| State Street | United States | 3,69 | 3,69 | |
| Caisse de dépôt et placement du Québec | Canada | 1,43 | 1,43 | |
| Legal & General | United Kingdom | 0,09 | 0,09 | |
| Intesa Sanpaolo | Italy | 0,44 | 0,44 | |
| Bessemer Group | United States | 0,04 | 0,04 | |
| Aegon | Netherlands | 0,18 | 0,18 | |
| Berner Kantonalbank | Switzerland | 0,01 | 0,01 | |
| Northern Trust | United States | 3,23 | 3,23 | |
| Crédit Agricole | France | 1,32 | 1,32 | |
| Cutler Investment Group | United States | 0,09 | 0,09 | |
| Swedbank | Sweden | 0,43 | 0,43 | |
| Wells Fargo | United States | 0,04 | 0,04 | |
| BMO Financial Group | Canada | 0,18 | 0,18 | |
| Controlfida | Switzerland | 0,01 | 0,01 | |
| Eaton Vance | United States | 3,11 | 3,11 | |
| APG Group | Netherlands | 1,12 | 1,12 | |
| Anbang Insurance Group | China | 0,09 | 0,09 | |
| Manulife Financial | Canada | 0,38 | 0,38 | |
| Legg Mason | United States | 0,04 | 0,04 | |
| Power Financial Corporation | Canada | 0,18 | 0,18 | |
| Morgan Stanley | United States | 0,01 | 0,01 | |
| TIAA | United States | 3,10 | 3,10 | |
| British Columbia Investment Management | Canada | 1,10 | 1,10 | |
| Mirae Asset Financial Group | South Korea | 0,09 | 0,09 | |
| Premia Partners | Hong Kong | 0,36 | 0,36 | |
| SinoPac Holdings | Taiwan | 0,04 | 0,04 | |
| BlackRock | United States | 62,07 | 62,07 | |
| Vestcor Investment Management | Canada | 0,17 | 0,17 | |
| Graubundner Kantonalbank | Switzerland | 0,00 | 0,00 | |
| Sjunde AP-fonden (AP7) | Sweden | 3,04 | 3,04 | |
| City of London Investment Group | United Kingdom | 1,07 | 1,07 | |
| Bank of China | China | 0,09 | 0,09 | |
| California State Teachers' Retirement System (CalSTRS) | United States | 0,36 | 0,36 | |
| Groupama | France | 0,04 | 0,04 | |
| GPIF | Japan | 23,23 | 23,23 | |
| Nomura | Japan | 0,16 | 0,16 | |
| Fidelity International | Bermuda | 0,00 | 0,00 | |
| Deutsche Bank | Germany | 3,00 | 3,00 | |
| Bank of New York Mellon | United States | 0,85 | 0,85 | |
| Lazard | Bermuda | 0,08 | 0,08 |
TOTAL (in US$ million)
Related Banks
| Bank | Country of HQ | Underwriting (Mio $) | Loans (Mio $) | Grand Total (Mio $) |
|---|---|---|---|---|
| AfrAsia Bank | Mauritius | 8,00 | 8,00 | |
| Bank of China | China | 187,00 | 186,70 | |
| Bank of Philippine Islands | Philippines | 140,69 | 140,69 | |
| BDO Unibank | Philippines | 121,78 | 520,00 | 641,79 |
| Chang Hwa Commercial Bank | Taiwan | 8,00 | 8,00 | |
| China Banking Corporation | Philippines | 92,00 | 91,99 | |
| CTBC Financial Holding | Taiwan | 15,00 | 15,00 | |
| DBS | Singapore | 80,00 | 80,00 | |
| First Abu Dhabi Bank | United Arab Emirates | 15,00 | 15,00 | |
| First Financial Holding | Taiwan | 14,00 | 14,00 | |
| Fubon Financial | Taiwan | 17,00 | 16,50 | |
| Hana Financial | South Korea | 8,00 | 8,00 | |
| Hua Nan Financial | Taiwan | 15,00 | 15,00 | |
| Industrial and Commercial Bank of China | China | 11,00 | 11,00 | |
| ING Group | Netherlands | 103,00 | 102,60 | |
| Land Bank of Taiwan | Taiwan | 15,00 | 15,00 | |
| Land Bank of the Philippines | Philippines | 10,43 | 92,00 | 102,43 |
| Mega Financial | Taiwan | 15,00 | 15,00 | |
| Metropolitan Bank & Trust | Philippines | 58,44 | 58,44 | |
| Mitsubishi UFJ Financial | Japan | 90,00 | 90,00 | |
| Mizuho Financial | Japan | 158,00 | 157,60 | |
| Philippine Bank of Communication | Philippines | 9,00 | 9,00 | |
| Security Bank | Philippines | 87,00 | 87,00 | |
| Shin Kong Financial Holding | Taiwan | 8,00 | 8,00 | |
| SMBC Group | Japan | 103,00 | 102,60 | |
| Standard Chartered | United Kingdom | 53,00 | 53,00 | |
| Sunny Bank | Taiwan | 8,00 | 8,00 | |
| Taiwan Business Bank | Taiwan | 12,00 | 12,00 | |
| Taiwan Cooperative Financial | Taiwan | 12,00 | 12,00 | |
| Taiwan Financial Holding | Taiwan | 15,00 | 15,00 | |
| United Coconut Planters Bank | Philippines | 73,78 | 73,78 |