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 $) |
|---|---|---|---|---|
| BlackRock | United States | 62.07 | 62.07 | |
| GPIF | Japan | 23.23 | 23.23 | |
| Vanguard | United States | 18.57 | 18.57 | |
| CPP Investment Board | Canada | 11.77 | 11.77 | |
| Dimensional Fund Advisors | United States | 10.93 | 10.93 | |
| California Public Employees' Retirement System (CalPERS) | United States | 6.98 | 6.98 | |
| Geode Capital Holdings | United States | 4.30 | 4.30 | |
| State Street | United States | 3.69 | 3.69 | |
| Northern Trust | United States | 3.23 | 3.23 | |
| Eaton Vance | United States | 3.11 | 3.11 | |
| TIAA | United States | 3.10 | 3.10 | |
| Sjunde AP-fonden (AP7) | Sweden | 3.04 | 3.04 | |
| Deutsche Bank | Germany | 3.00 | 3.00 | |
| UBS | Switzerland | 2.73 | 2.73 | |
| Credit Suisse | Switzerland | 2.35 | 2.35 | |
| Pictet | Switzerland | 1.67 | 1.67 | |
| Prudential (UK) | United Kingdom | 1.60 | 1.60 | |
| JPMorgan Chase | United States | 1.46 | 1.46 | |
| Caisse de dépôt et placement du Québec | Canada | 1.43 | 1.43 | |
| Crédit Agricole | France | 1.32 | 1.32 | |
| APG Group | Netherlands | 1.12 | 1.12 | |
| British Columbia Investment Management | Canada | 1.10 | 1.10 | |
| City of London Investment Group | United Kingdom | 1.07 | 1.07 | |
| Bank of New York Mellon | United States | 0.85 | 0.85 | |
| Orix Corporation | Japan | 0.64 | 0.64 | |
| Zürcher Kantonalbank | Switzerland | 0.56 | 0.56 | |
| Aviva | United Kingdom | 0.54 | 0.54 | |
| Tredje AP-Fonden (AP3) | Sweden | 0.51 | 0.51 | |
| Inspire Investing | United States | 0.48 | 0.48 | |
| Intesa Sanpaolo | Italy | 0.44 | 0.44 | |
| Swedbank | Sweden | 0.43 | 0.43 | |
| Manulife Financial | Canada | 0.38 | 0.38 | |
| Premia Partners | Hong Kong | 0.36 | 0.36 | |
| California State Teachers' Retirement System (CalSTRS) | United States | 0.36 | 0.36 | |
| Andbank | Andorra | 0.34 | 0.34 | |
| HSBC | United Kingdom | 0.32 | 0.32 | |
| RAM Active Investments | Switzerland | 0.26 | 0.26 | |
| Sumitomo Mitsui Trust | Japan | 0.24 | 0.24 | |
| Banque Degroof Petercam | Belgium | 0.23 | 0.23 | |
| Svenska Handelsbanken | Sweden | 0.20 | 0.20 | |
| Aegon | Netherlands | 0.18 | 0.18 | |
| BMO Financial Group | Canada | 0.18 | 0.18 | |
| Power Financial Corporation | Canada | 0.18 | 0.18 | |
| Vestcor Investment Management | Canada | 0.17 | 0.17 | |
| Nomura | Japan | 0.16 | 0.16 | |
| Florida State Board of Administration | United States | 0.16 | 0.16 | |
| Sparinvest | Luxembourg | 0.14 | 0.14 | |
| Swiss Rock Asset Management | Switzerland | 0.13 | 0.13 | |
| Fidelity Investments | United States | 0.12 | 0.12 | |
| Royal Bank of Canada | Canada | 0.10 | 0.10 | |
| Legal & General | United Kingdom | 0.09 | 0.09 | |
| 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 | |
| Lazard | Bermuda | 0.08 | 0.08 | |
| Invesco | United States | 0.08 | 0.08 | |
| CIBC | Canada | 0.07 | 0.07 | |
| Victory Capital | United States | 0.05 | 0.05 | |
| Nykredit Group | Denmark | 0.05 | 0.05 |
TOTAL (in US$ million)
Related Banks
| Bank | Country of HQ | Underwriting (Mio $) | Loans (Mio $) Sort ascending | Grand Total (Mio $) |
|---|---|---|---|---|
| BDO Unibank | Philippines | 121,78 | 520,00 | 641,79 |
| Bank of China | China | 187,00 | 186,70 | |
| Mizuho Financial | Japan | 158,00 | 157,60 | |
| SMBC Group | Japan | 103,00 | 102,60 | |
| ING Group | Netherlands | 103,00 | 102,60 | |
| China Banking Corporation | Philippines | 92,00 | 91,99 | |
| Land Bank of the Philippines | Philippines | 10,43 | 92,00 | 102,43 |
| Mitsubishi UFJ Financial | Japan | 90,00 | 90,00 | |
| Security Bank | Philippines | 87,00 | 87,00 | |
| DBS | Singapore | 80,00 | 80,00 | |
| Standard Chartered | United Kingdom | 53,00 | 53,00 | |
| Fubon Financial | Taiwan | 17,00 | 16,50 | |
| CTBC Financial Holding | Taiwan | 15,00 | 15,00 | |
| Mega Financial | Taiwan | 15,00 | 15,00 | |
| Taiwan Financial Holding | Taiwan | 15,00 | 15,00 | |
| First Abu Dhabi Bank | United Arab Emirates | 15,00 | 15,00 | |
| Hua Nan Financial | Taiwan | 15,00 | 15,00 | |
| Land Bank of Taiwan | Taiwan | 15,00 | 15,00 | |
| First Financial Holding | Taiwan | 14,00 | 14,00 | |
| Taiwan Business Bank | Taiwan | 12,00 | 12,00 | |
| Taiwan Cooperative Financial | Taiwan | 12,00 | 12,00 | |
| Industrial and Commercial Bank of China | China | 11,00 | 11,00 | |
| Philippine Bank of Communication | Philippines | 9,00 | 9,00 | |
| AfrAsia Bank | Mauritius | 8,00 | 8,00 | |
| Hana Financial | South Korea | 8,00 | 8,00 | |
| Shin Kong Financial Holding | Taiwan | 8,00 | 8,00 | |
| Chang Hwa Commercial Bank | Taiwan | 8,00 | 8,00 | |
| Sunny Bank | Taiwan | 8,00 | 8,00 | |
| Metropolitan Bank & Trust | Philippines | 58,44 | 58,44 | |
| United Coconut Planters Bank | Philippines | 73,78 | 73,78 | |
| Bank of Philippine Islands | Philippines | 140,69 | 140,69 |