Coal is the number one driver of climate change, and phasing out investments in the coal industry is the single most important step financial institutions can take to protect our climate. Effective divestment, however, requires a precise understanding of who the coal industry is. This is where the Global Coal Exit List (GCEL) comes in.
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The GCEL was devised to help financial institutions navigate the complicated landscape of coal-based business models. It offers key statistics on over 900 parent companies and 1,800 subsidiaries operating along the thermal coal value chain.
Investors representing over US$ 14 trillion in assets are already applying one or more of the GCEL’s three divestment criteria to screen coal companies out of their portfolios. But unless more follow and do so quickly, we will fail the most basic of all climate tests: leaving coal behind.