Financial Backers of Global Coal

We are revealing the investors and banks behind the companies on our Global Coal Exit List.

 

In January 2021, 4,488 institutional investors held investments totaling US$ 1.03 trillion in companies operating along the thermal coal value chain.

Between October 1st 2018 and October 31st 2020 our research identified 665 banks that provided loans totaling US$ 315 billion and underwriting activities worth over US$ 808 billion to GCEL companies.

For more information, see the full ranking of the financial institutions and our briefing “Revealing the Financiers of the Coal Industry”.

Below, you can look up these investors and banks and their coal investments, but you can also search for a coal company and look at the banks and investors behind it.

The investment figures presented are gathered at group level. Please, note that investments might have changed since the data was retrieved from the financial databases. Read the detailed Methodology for more information.

The GCEL 2020 finance research was published by Urgewald and partner NGOs and was conducted by Profundo. Further analysis on the listed financial institutions’ coal policies can be found in the Coal Policy Tool of Reclaim Finance.

Choose Investor

Vanguard

United States
Company Country of HQ Shareholding (Mio $) Bondholding (Mio $) Total (Mio $) Sort ascending
Duke Energy USA 5,149.77 2,796.23 7,946.00
Ameren Corp USA 5,802.76 518.04 6,320.80
Southern Company USA 4,838.20 985.57 5,823.77
Air Products & Chemicals USA 4,797.55 291.69 5,089.25
American Electric Power USA 3,638.69 577.52 4,216.20
XCEL Energy USA 3,032.07 746.48 3,778.55
WEC Energy Group USA 3,520.86 105.15 3,626.01
FirstEnergy USA 2,608.97 475.90 3,084.86
DTE Energy USA 2,457.48 211.24 2,668.72
Enel Italy 2,447.90 168.93 2,616.82
PPL Corporation USA 2,165.48 333.36 2,498.85
CMS Energy USA 2,143.75 303.12 2,446.87
BHP Group Australia 1,605.60 288.54 1,894.14
Alliant Energy USA 1,511.21 148.80 1,660.01
NiSource USA 1,338.12 299.94 1,638.05
CenterPoint Energy USA 1,150.97 259.03 1,410.00
AES Corp USA 1,304.15 6.13 1,310.28
Vale Brazil 1,221.34 56.52 1,277.86
Pinnacle West Capital USA 1,014.96 164.87 1,179.83
Anglo American United Kingdom 1,088.00 21.44 1,109.44
Berkshire Hathaway Energy Company USA 1,058.26 1,058.26
Itochu Japan 995.04 995.04
NRG Energy USA 956.45 17.77 974.22
Dominion Energy USA 901.53 901.53
Vistra Corp USA 893.27 0.09 893.36
Formosa Plastics Taiwan 840.74 840.74
Fortis Canada 563.85 261.87 825.72
Mitsubishi Japan 823.23 823.23
Glencore Switzerland 803.59 10.69 814.28
Mitsui & Co Japan 807.20 807.20
RWE Germany 716.27 0.12 716.39
OGE Energy USA 622.80 64.02 686.82
IDACORP USA 501.70 0.18 501.88
CLP Holdings China (Hong Kong) 484.73 484.73
Black Hills USA 387.25 94.74 482.00
AGL Energy Australia 464.23 11.74 475.97
Fortum Finland 394.09 22.74 416.83
Portland General Electric (PGE) USA 409.69 0.14 409.83
POSCO South Korea 392.46 0.20 392.66
Sumitomo Corp Japan 386.64 0.20 386.84
PNM Resources USA 368.52 0.01 368.52
Aurizon Holdings Australia 348.80 348.80
Tenaga Nasional Berhad (TNB) Malaysia 345.09 345.09
Emera Canada 308.82 35.28 344.10
South32 Australia 308.51 308.51
Electricite de France (EDF Group) France 98.30 209.36 307.66
NorthWestern Corp USA 293.57 10.16 303.73
ALLETE USA 294.70 294.70
United Tractors Indonesia 287.59 287.59
Origin Energy Australia 286.20 286.20
Marubeni Japan 256.30 0.40 256.70
China Energy Investment Corporation (China Energy/ CHN Energy) China 256.68 256.68
Taiwan Cement Taiwan 250.36 250.36
Chubu Electric Power Japan 249.64 249.64
MGE Energy USA 238.50 238.50
Power Assets Holdings China (Hong Kong) 234.58 234.58
Kansai Electric Power (KEPCO) Japan 207.06 13.91 220.97
Nippon Steel Japan 218.70 218.70
Larsen & Toubro India 199.24 199.24
Evergy USA 191.73 191.73

TOTAL (in US$ million)

Shareholding: 74,011.90
Bondholding: 11,839.61
Total: 85,851.50