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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TIAA

United States
Company Country of HQ Shareholding (Mio $) Bondholding (Mio $) Total (Mio $) Sort ascending
Energy Harbor USA 893.54 893.54
Duke Energy USA 282.14 573.80 855.94
Ameren Corp USA 523.54 330.74 854.29
American Electric Power USA 477.28 191.28 668.55
FirstEnergy USA 555.54 23.13 578.67
Southern Company USA 267.37 281.86 549.23
XCEL Energy USA 144.11 404.75 548.85
CenterPoint Energy USA 440.30 63.00 503.30
Enel Italy 438.04 59.41 497.46
WEC Energy Group USA 224.45 247.16 471.61
Alliant Energy USA 72.91 298.03 370.94
PPL Corporation USA 128.26 238.78 367.04
Portland General Electric (PGE) USA 47.55 294.00 341.55
Berkshire Hathaway Energy Company USA 335.47 335.47
RWE Germany 300.05 8.91 308.96
Air Products & Chemicals USA 228.96 69.61 298.57
CMS Energy USA 77.33 211.80 289.13
NiSource USA 74.58 211.26 285.84
NorthWestern Corp USA 25.03 231.16 256.19
DTE Energy USA 90.49 150.96 241.45
Evergy USA 235.55 235.55
Glencore Switzerland 40.91 181.70 222.61
BHP Group Australia 111.35 106.01 217.37
AES Corp USA 30.12 181.65 211.77
Fortis Canada 21.98 175.27 197.25
Pinnacle West Capital USA 37.20 147.39 184.59
Black Hills USA 44.26 131.41 175.67
Dominion Energy USA 161.03 161.03
IDACORP USA 18.70 139.75 158.45
Perusahaan Listrik Negara (PLN) Indonesia 141.70 141.70
OGE Energy USA 21.58 117.00 138.58
Vistra Corp USA 129.75 0.04 129.79
Emera Canada 11.64 112.08 123.72
Electricite de France (EDF Group) France 13.81 101.51 115.31
Eskom Holdings South Africa 111.74 111.74
Anglo American United Kingdom 75.83 33.41 109.24
Adani Group India 5.68 99.65 105.33
NRG Energy USA 39.86 47.69 87.56
Mitsubishi Japan 85.45 85.45
Itochu Japan 82.38 82.38
First Quantum Minerals Canada 19.43 61.05 80.48
Mitsui & Co Japan 78.43 78.43
United Tractors Indonesia 74.88 74.88
Empire District Electric Co USA 70.00 70.00
Vale Brazil 64.82 64.82
CEZ Czech Republic 7.03 46.78 53.81
Great River Energy USA 51.91 51.91
Transnet SOC South Africa 47.56 47.56
CLP Holdings China (Hong Kong) 44.60 44.60
Korea Electric Power (KEPCO) South Korea 5.68 37.85 43.53
POSCO South Korea 30.13 7.43 37.56
Formosa Plastics Taiwan 37.36 37.36
Aurizon Holdings Australia 34.96 34.96
Sasol South Africa 5.58 28.83 34.40
Tokyo Electric Power (TEPCO) Japan 8.28 24.29 32.57
Power Assets Holdings China (Hong Kong) 31.42 31.42
Fortum Finland 30.21 30.21
Sumitomo Corp Japan 26.49 26.49
Nippon Steel Japan 24.37 24.37
Tenaga Nasional Berhad (TNB) Malaysia 9.83 14.00 23.83

TOTAL (in US$ million)

Shareholding: 6,951.70
Bondholding: 6,877.06
Total: 13,828.76