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.

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Allianz

Germany
Company Country of HQ Shareholding (Mio $) Bondholding (Mio $) Total (Mio $) Sort ascending
Enel Italy 317.51 893.31 1,210.82
Duke Energy USA 65.38 889.33 954.72
American Electric Power USA 84.66 260.85 345.51
Southern Company USA 21.81 319.26 341.07
Fortis Canada 19.43 250.95 270.38
XCEL Energy USA 23.03 215.61 238.64
Glencore Switzerland 34.50 203.96 238.45
BHP Group Australia 62.89 165.21 228.10
NRG Energy USA 0.49 226.31 226.81
Electricite de France (EDF Group) France 7.55 212.03 219.58
Berkshire Hathaway Energy Company USA 195.34 195.34
Alliant Energy USA 27.52 158.88 186.40
AES Corp USA 38.14 139.04 177.18
Adani Group India 173.13 173.13
FirstEnergy USA 1.60 163.29 164.89
Eskom Holdings South Africa 162.95 162.95
Anglo American United Kingdom 66.31 71.38 137.69
Ameren Corp USA 99.58 36.28 135.85
Wanhua Chemical Group China 129.33 129.33
Dominion Energy USA 125.28 125.28
Black Hills USA 6.44 115.02 121.46
DTE Energy USA 87.56 20.78 108.34
WEC Energy Group USA 27.88 78.19 106.07
Perusahaan Listrik Negara (PLN) Indonesia 95.95 95.95
PPL Corporation USA 10.32 83.44 93.76
Portland General Electric (PGE) USA 12.60 77.50 90.10
Sasol South Africa 89.03 89.03
OGE Energy USA 6.18 78.79 84.96
Pinnacle West Capital USA 3.47 80.80 84.26
Fortum Finland 34.87 45.38 80.25
NiSource USA 9.76 59.18 68.94
CMS Energy USA 1.22 66.42 67.64
First Quantum Minerals Canada 5.96 58.08 64.03
Itochu Japan 61.94 61.94
CenterPoint Energy USA 6.70 51.72 58.42
Vale Brazil 17.17 37.45 54.62
IDACORP USA 11.37 31.27 42.63
Gulf Power USA 38.59 38.59
Air Products & Chemicals USA 22.40 16.04 38.43
Great River Energy USA 37.80 37.80
Energy Harbor USA 34.09 34.09
Power Finance Corp India 3.32 29.05 32.37
Mitsui & Co Japan 29.85 29.85
CEZ Czech Republic 0.09 29.15 29.24
POSCO South Korea 16.37 12.79 29.16
Evergy USA 28.24 28.24
Mitsubishi Japan 22.76 5.40 28.16
Indonesia Asahan Aluminium Indonesia 28.05 28.05
PNM Resources USA 8.38 19.50 27.88
EnBW Energie Baden-Württemberg Germany 25.45 25.45
RWE Germany 17.15 8.10 25.25
TAURON Polska Energia Poland 3.77 20.64 24.41
Sumitomo Corp Japan 21.14 21.14
State Grid Corporation of China (SGCC) China 20.50 20.50
CLP Holdings China (Hong Kong) 13.85 5.75 19.60
Vistra Corp USA 19.43 0.14 19.57
Guangdong Investment China 15.97 15.97
Aurizon Holdings Australia 15.82 15.82
Marubeni Japan 14.71 14.71
CITIC Ltd China (Hong Kong) 2.66 11.75 14.41

TOTAL (in US$ million)

Shareholding: 1,632.14
Bondholding: 6,360.22
Total: 7,992.35