Banks & Investors behind the Global Coal Plant Pipeline 2019
Note: This research was done on the basis of the GCEL 2019. New finance data on ALL companies listed on the GCEL 2020 is underway. The update will be published in the first half of February 2021.
Despite global consensus about the need for a timely coal phase-out, new coal plants are still being planned or developed around the world. If built, these projects would add over 500 GW to the global coal plant fleet. 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!
Detailed Methodology (PDF)
Aboitiz Equity Ventures
Related Investors
| Investor | Country of HQ | Shareholding (Mio $) | Bondholding (Mio $) Sort descending | Total (Mio $) |
|---|---|---|---|---|
| Sjunde AP-fonden (AP7) | Sweden | 3.04 | 3.04 | |
| Vestcor Investment Management | Canada | 0.17 | 0.17 | |
| Graubundner Kantonalbank | Switzerland | 0.00 | 0.00 | |
| City of London Investment Group | United Kingdom | 1.07 | 1.07 | |
| Bank of China | China | 0.09 | 0.09 | |
| GPIF | Japan | 23.23 | 23.23 | |
| California State Teachers' Retirement System (CalSTRS) | United States | 0.36 | 0.36 | |
| Groupama | France | 0.04 | 0.04 | |
| Deutsche Bank | Germany | 3.00 | 3.00 | |
| Nomura | Japan | 0.16 | 0.16 | |
| Fidelity International | Bermuda | 0.00 | 0.00 | |
| Bank of New York Mellon | United States | 0.85 | 0.85 | |
| Lazard | Bermuda | 0.08 | 0.08 | |
| Vanguard | United States | 18.57 | 18.57 | |
| Andbank | Andorra | 0.34 | 0.34 | |
| DNB | Norway | 0.03 | 0.03 | |
| UBS | Switzerland | 2.73 | 2.73 | |
| Florida State Board of Administration | United States | 0.16 | 0.16 | |
| Orix Corporation | Japan | 0.64 | 0.64 | |
| Invesco | United States | 0.08 | 0.08 | |
| CPP Investment Board | Canada | 11.77 | 11.77 | |
| HSBC | United Kingdom | 0.32 | 0.32 | |
| Ando Securities | Japan | 0.03 | 0.03 | |
| Credit Suisse | Switzerland | 2.35 | 2.35 | |
| Sparinvest | Luxembourg | 0.14 | 0.14 | |
| Zürcher Kantonalbank | Switzerland | 0.56 | 0.56 | |
| CIBC | Canada | 0.07 | 0.07 | |
| Dimensional Fund Advisors | United States | 10.93 | 10.93 | |
| RAM Active Investments | Switzerland | 0.26 | 0.26 | |
| American International Group (AIG) | United States | 0.03 | 0.03 | |
| 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 | |
| California Public Employees' Retirement System (CalPERS) | United States | 6.98 | 6.98 | |
| Sumitomo Mitsui Trust | Japan | 0.24 | 0.24 | |
| Sanlam | South Africa | 0.02 | 0.02 | |
| 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 | |
| Geode Capital Holdings | United States | 4.30 | 4.30 | |
| Banque Degroof Petercam | Belgium | 0.23 | 0.23 | |
| Glovista Investments | United States | 0.02 | 0.02 | |
| 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 | |
| State Street | United States | 3.69 | 3.69 | |
| Svenska Handelsbanken | Sweden | 0.20 | 0.20 | |
| Resona Holdings | Japan | 0.01 | 0.01 | |
| 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 | |
| Northern Trust | United States | 3.23 | 3.23 | |
| Aegon | Netherlands | 0.18 | 0.18 | |
| Berner Kantonalbank | Switzerland | 0.01 | 0.01 | |
| Crédit Agricole | France | 1.32 | 1.32 | |
| Cutler Investment Group | United States | 0.09 | 0.09 |
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 | 140,69 | 140,69 | ||
| BDO Unibank | 121,78 | 520,00 | 641,79 | |
| Chang Hwa Commercial Bank | Taiwan | 8,00 | 8,00 | |
| China Banking Corporation | 92,00 | 91,99 | ||
| CTBC Financial Holding | Taiwan | 15,00 | 15,00 | |
| DBS | 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 | 10,43 | 92,00 | 102,43 | |
| Mega Financial | Taiwan | 15,00 | 15,00 | |
| Metropolitan Bank & Trust | 58,44 | 58,44 | ||
| Mitsubishi UFJ Financial | Japan | 90,00 | 90,00 | |
| Mizuho Financial | Japan | 158,00 | 157,60 | |
| Philippine Bank of Communication | 9,00 | 9,00 | ||
| Security Bank | 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 | 73,78 | 73,78 |