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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Intesa Sanpaolo

Italy
Company Country of HQ Shareholding (Mio $) Bondholding (Mio $) Total (Mio $) Sort ascending
Enel Italy 236.76 36.70 273.46
Anglo American United Kingdom 53.97 6.38 60.34
BHP Group Australia 20.57 29.11 49.68
Air Products & Chemicals USA 41.51 4.06 45.58
Electricite de France (EDF Group) France 5.52 39.50 45.01
Vale Brazil 23.68 5.46 29.14
Duke Energy USA 18.15 4.60 22.75
XCEL Energy USA 5.93 15.84 21.76
EnBW Energie Baden-Württemberg Germany 21.59 21.59
China Energy Investment Corporation (China Energy/ CHN Energy) China 21.40 21.40
Itochu Japan 17.78 17.78
Fortum Finland 9.56 7.98 17.54
Perusahaan Listrik Negara (PLN) Indonesia 13.79 13.79
Glencore Switzerland 12.03 1.66 13.69
Indonesia Asahan Aluminium Indonesia 13.35 13.35
Berkshire Hathaway Energy Company USA 12.60 12.60
Larsen & Toubro India 12.11 12.11
POSCO South Korea 11.52 11.52
Ameren Corp USA 11.32 11.32
United Tractors Indonesia 11.05 11.05
NTPC India 2.10 8.66 10.76
Mitsui & Co Japan 10.34 10.34
RWE Germany 8.48 1.66 10.14
Formosa Plastics Taiwan 9.77 9.77
Eskom Holdings South Africa 9.11 9.11
Mitsubishi Japan 9.01 9.01
WEC Energy Group USA 8.90 8.90
American Electric Power USA 8.47 0.10 8.57
Bulgarian Energy Holding (BEH) Bulgaria 8.24 8.24
DTE Energy USA 6.06 2.00 8.06
Alliant Energy USA 1.86 5.30 7.16
Southern Company USA 6.83 0.07 6.90
First Quantum Minerals Canada 1.11 5.42 6.52
Aurizon Holdings Australia 6.32 6.32
CLP Holdings China (Hong Kong) 6.22 6.22
Tenaga Nasional Berhad (TNB) Malaysia 5.59 5.59
CMS Energy USA 5.15 5.15
Sumitomo Corp Japan 5.12 5.12
Fortis Canada 0.69 4.00 4.69
PPL Corporation USA 4.66 4.66
Adani Group India 4.63 4.63
Korea Electric Power (KEPCO) South Korea 2.24 2.00 4.24
Power Assets Holdings China (Hong Kong) 3.79 3.79
Marubeni Japan 3.74 3.74
Guangdong Investment China 3.58 3.58
Taiwan Cement Taiwan 3.57 3.57
Hindalco Industries India 3.36 3.36
Nippon Steel Japan 3.06 3.06
Chubu Electric Power Japan 2.85 2.85
CEZ Czech Republic 1.43 1.07 2.50
CITIC Ltd China (Hong Kong) 2.01 0.40 2.41
Energa Poland 2.37 2.37
Sasol South Africa 2.24 2.24
State Grid Corporation of China (SGCC) China 2.00 2.00
South32 Australia 1.91 1.91
Origin Energy Australia 1.88 1.88
AGL Energy Australia 1.73 1.73
Tokyo Electric Power (TEPCO) Japan 1.64 1.64
Tohoku Electric Power Japan 1.61 1.61
Chugoku Electric Power Japan 1.51 1.51

TOTAL (in US$ million)

Shareholding: 691.26
Bondholding: 265.06
Total: 956.32