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)

 

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BlackRock

United States
Company Country of HQ Shareholding (Mio $) Bondholding (Mio $) Total (Mio $) Sort ascending
Vale 3,066.24 44.27 3,110.52
Mitsui & Co Australia 1,342.76 1,342.76
POSCO South Korea 1,337.42 1.01 1,338.42
CLP Holdings Hong Kong 1,291.94 1,291.94
AES Corporation United States 1,054.57 137.25 1,191.82
Nippon Steel & Sumitomo Metal Japan 875.54 875.54
Mitsubishi Corporation Japan 779.72 1.71 781.43
Itochu Corporation Japan 680.07 680.07
Fortum Oyj Finland 326.45 136.18 462.63
Uniper Germany 454.54 454.54
Larsen & Toubro India 450.61 450.61
Sumitomo Corporation Japan 424.10 424.10
Formosa Plastics Group Taiwan 411.93 411.93
First Quantum Minerals Canada 327.70 79.35 407.05
Chugoku Electric Power Japan 301.89 3.65 305.54
Tenaga Nasional Berhad (TNB) 305.23 305.23
Marubeni Corporation Japan 260.87 0.60 261.47
China Huaneng Group China 227.29 227.29
Chubu Electric Power Japan 216.11 216.11
Eskom South Africa 207.03 207.03
Kansai Electric Power Co (Kepco) Japan 199.28 199.28
Korea Electric Power (KEPCO) 178.36 8.37 186.73
Adani Group India 132.16 43.48 175.65
NTPC India 142.17 8.33 150.50
AGC Japan 137.64 137.64
PLN (Persero) 134.20 134.20
Ayala Corporation 121.50 121.50
Tohoku Electric Power Japan 105.88 14.42 120.29
Kyushu Electric Power Japan 105.89 2.60 108.49
Jindal Steel & Power India 101.41 101.41
Genting Group 90.33 90.33
J-Power (Electric Power Development Co) Japan 88.63 88.63
Power Finance Corporation India 15.05 68.02 83.08
China Resources Power China 79.26 79.26
Indonesia Asahan Aluminium 4.43 72.75 77.18
Inter Rao Russia 74.63 74.63
United Tractors 63.45 63.45
Aboitiz Equity Ventures 62.07 62.07
Polska Grupa Energetyczna (PGE) Poland 61.09 61.09
Wintime Holding Group China 0.01 56.82 56.83
Manila Electric Co (Meralco) 53.57 53.57
Rural Power Company Limited (RPCL) Bangladesh 47.22 47.22
First Pacific Co Hong Kong 45.28 45.28
Sembcorp Industries 39.98 39.98
Magna Resources Corporation 37.99 37.99
Kobe Steel Ltd Japan 37.60 37.60
State Power Investment Corporation (SPIC) China 34.36 1.20 35.56
Guangxi Investment Group China 34.09 34.09
Adaro Energy 30.80 30.80
Tata Power India 28.10 28.10
DMCI Holdings 23.98 23.98
Shikoku Electric Power Japan 21.09 21.09
China National Coal Group Corp (Chinacoal) China 19.87 19.87
State Development and Investment Corporation (SDIC) China 19.19 19.19
Banpu Public Company 17.64 17.64
National Aluminium Co (Nalco) India 17.36 17.36
Shaanxi Coal and Chemical Industry Group China 14.49 14.49
Eneva 14.39 14.39
Bukit Asam 13.36 13.36
Energa Poland 6.03 7.07 13.09

TOTAL (in US$ million)

Shareholding: 16,436.09
Bondholding: 1,130.79
Total: 17,566.87