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 $) | Total (Mio $) Sort descending |
|---|---|---|---|---|
| Graubundner Kantonalbank | Switzerland | 0,00 | 0,00 | |
| Fidelity International | Bermuda | 0,00 | 0,00 | |
| Controlfida | Switzerland | 0,01 | 0,01 | |
| Morgan Stanley | United States | 0,01 | 0,01 | |
| Resona Holdings | Japan | 0,01 | 0,01 | |
| Berner Kantonalbank | Switzerland | 0,01 | 0,01 | |
| Sanlam | South Africa | 0,02 | 0,02 | |
| Glovista Investments | United States | 0,02 | 0,02 | |
| DNB | Norway | 0,03 | 0,03 | |
| Ando Securities | Japan | 0,03 | 0,03 | |
| American International Group (AIG) | United States | 0,03 | 0,03 | |
| Wells Fargo | United States | 0,04 | 0,04 | |
| Legg Mason | United States | 0,04 | 0,04 | |
| SinoPac Holdings | Taiwan | 0,04 | 0,04 | |
| Groupama | France | 0,04 | 0,04 | |
| Danske Bank | Denmark | 0,04 | 0,04 | |
| Bessemer Group | United States | 0,04 | 0,04 | |
| Victory Capital | United States | 0,05 | 0,05 | |
| Nykredit Group | Denmark | 0,05 | 0,05 | |
| CIBC | Canada | 0,07 | 0,07 | |
| Lazard | Bermuda | 0,08 | 0,08 | |
| Invesco | United States | 0,08 | 0,08 | |
| Cutler Investment Group | United States | 0,09 | 0,09 | |
| Anbang Insurance Group | China | 0,09 | 0,09 | |
| Mirae Asset Financial Group | South Korea | 0,09 | 0,09 | |
| Bank of China | China | 0,09 | 0,09 | |
| Legal & General | United Kingdom | 0,09 | 0,09 | |
| Royal Bank of Canada | Canada | 0,10 | 0,10 | |
| Fidelity Investments | United States | 0,12 | 0,12 | |
| Swiss Rock Asset Management | Switzerland | 0,13 | 0,13 | |
| Sparinvest | Luxembourg | 0,14 | 0,14 | |
| Nomura | Japan | 0,16 | 0,16 | |
| Florida State Board of Administration | United States | 0,16 | 0,16 | |
| Vestcor Investment Management | Canada | 0,17 | 0,17 | |
| BMO Financial Group | Canada | 0,18 | 0,18 | |
| Power Financial Corporation | Canada | 0,18 | 0,18 | |
| Aegon | Netherlands | 0,18 | 0,18 | |
| Svenska Handelsbanken | Sweden | 0,20 | 0,20 | |
| Banque Degroof Petercam | Belgium | 0,23 | 0,23 | |
| Sumitomo Mitsui Trust | Japan | 0,24 | 0,24 | |
| RAM Active Investments | Switzerland | 0,26 | 0,26 | |
| HSBC | United Kingdom | 0,32 | 0,32 | |
| Andbank | Andorra | 0,34 | 0,34 | |
| Premia Partners | Hong Kong | 0,36 | 0,36 | |
| California State Teachers' Retirement System (CalSTRS) | United States | 0,36 | 0,36 | |
| Manulife Financial | Canada | 0,38 | 0,38 | |
| Swedbank | Sweden | 0,43 | 0,43 | |
| Intesa Sanpaolo | Italy | 0,44 | 0,44 | |
| Inspire Investing | United States | 0,48 | 0,48 | |
| Tredje AP-Fonden (AP3) | Sweden | 0,51 | 0,51 | |
| Aviva | United Kingdom | 0,54 | 0,54 | |
| Zürcher Kantonalbank | Switzerland | 0,56 | 0,56 | |
| Orix Corporation | Japan | 0,64 | 0,64 | |
| Bank of New York Mellon | United States | 0,85 | 0,85 | |
| City of London Investment Group | United Kingdom | 1,07 | 1,07 | |
| British Columbia Investment Management | Canada | 1,10 | 1,10 | |
| APG Group | Netherlands | 1,12 | 1,12 | |
| Crédit Agricole | France | 1,32 | 1,32 | |
| Caisse de dépôt et placement du Québec | Canada | 1,43 | 1,43 | |
| JPMorgan Chase | United States | 1,46 | 1,46 |
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 |