Voices on the Global Coal Exit List
Quotes by Finance Experts, Scientists, Politicians & NGO Campaigners
“The GCEL is the most thorough coal database we have seen so far. AXA has tested the list and finds it promising in terms of risk management, since we believe that some of these coal-related assets may become ‘stranded’ over time. Notably, the addition of “coal expansion” data usefully complements more conventional energy mix data. It is a great tool for investors who want to move their portfolios away from coal. The GCEL is NGO-based but it is also fact-based and sufficiently robust for AXA to use it as a key component of our new climate strategy.”
Sylvain Vanston, Head of ESG integration, AXA
"The Global Coal Exit list is a valuable input to implement our coal policy on the insurance side, as it is the only data source that also assesses private companies."
Zurich Insurance Group
“A recipe against climate killers: The Global Coal Exit List provides a meticulous overview of investments that will get your fingers burnt. Highly recommended reading. Thank you, Urgewald!”
Sven Giegold, Member of the European Parliament, The Green Party
“This research is potentially worth millions of dollars to investors. The depth of analysis conducted by Heffa Schuecking and her team is superb.”
Tom Sanzillo, Director of Finance, IEEFA institute
"The idea that a small team of civil society activists come up with reliable and exhaustive data that investors and industry watchers trust is itself exciting. And then to have the coal power expansion plans and coal share statistics of companies - those antiquated villains hurling us deeper in the climate crisis, to have it all there plainly, in one place, for us to call them out, is thrilling. I can definitely see the GCEL being even more widely used across a broad spectrum, excitingly accelerating the global coal exit!"
Vidya Dinker, Chief Executive of Growthwatch, India
“The Philippines and Southeast Asia have seen the worst devastation climate change has brought with it – Haiyan, Khanun and many other deadly storms. It is appalling that corporations such as Marubeni and KEPCO continue to push for coal expansion. The GCEL highlights these investments that are clearly incompatible with the aim of limiting global warming to 1.5°C and gives us a fighting chance to stop financiers from pouring more fuel on the fire.”
Gerry Arances, Center for Energy, Ecology, and Development (CEED), Philippines
"As institutions across the global capital markets accelerate their transition to a net zero emissions, resilient future, the lack of comprehensive, consistent and compelling data can hinder progress. Enter the Global Coal Exit List, maintained by a small team of researchers at Urgewald. GCEL plays an outsized role in the financial sector's rapid transition away from coal, the most destructive fossil fuel. For those in the banking, insurance and asset management businesses, GCEL has become the go-to data source enabling progressively more ambitious climate commitments."
Daniel Firger, Managing Director, Great Circle Capital Advisors (formerly Bloomberg Philanthropies)
“Urgewald has been relentless in building rigorous and effective tools. The Global Coal Exit List makes coal divestment easy and more impactful.”
Tom Kruse, Program Director, Rockefeller Brothers Fund
“Large parts of Africa are already being hit by climate change. The GCEL puts a spotlight on the companies investors need to ditch before it is too late.”
Trusha Reddy, WoMin, South Africa
"The Global Coal Exit List produced by Urgewald is an excellent tool for understanding asset stranding and energy transition risks. The tool provides one of the most comprehensive and in-depth databases for coal generation and expansion, offering investors one of the most detailed insights into coal exposure. ET Index Research has found the tool to go beyond what many other expensive databases offer and has increased the granularity of our analysis of transition risks on a portfolio level. GCEL is at current the most comprehensive coal database available to investors."
Pekka Piirainen, Investor Engagement Manager, ET Index Research
“The Global Coal Exit List changed everything. It allowed us to move from general protests to putting forward fact-based and do-able demands for moving financial institutions’ portfolios away from coal.”
Lucie Pinson, Reclaim Finance, France
“The Global Coal Exit List brings transparency to the haze surrounding the global coal industry and shows us that the industry is much bigger than often assumed. The Global Coal Exit List is a practical tool that not only enables divestment, but makes it effective. We can only hope that this brilliant invention will help us prevent run-away climate change.”
Ole von Uexküll, Executive Director, Right Livelihood Foundation
“Investments in renewables bring cheap and clean energy. This report is decisive for banks to avoid stranded investment and bankruptcy.”
Hans-Josef Fell, President of the Energy Watch Group
"The Global Coal Exist List database provides transparent and important information on the international coal market, and identifies which companies are active in the coal mining and coal power sectors. The financial market needs this important information on the profitability and the 'coal share' of portfolios in order to meet the ever-growing necessity of global climate protection.”
Prof. Claudia Kemfert, Head of Energy, Economics Institute DIW Berlin
“Coal is the climate killer number one among fossil fuels. We therefore need to phase out coal-fired power generation as quickly as possible.”
Prof. Mojib Latif, Climate Scientist, Helmholtz Centre for Ocean Research Kiel (GEOMAR)
“It's astonishing that by 2017 there's anyone left in the world who wants to keep building coal-fired power plants--there really isn't a more destructive path they could be taking. It's a good thing, then, that there's now a list of precisely who's behind these plans, so we can all go to work."
Bill McKibben, Environmentalist and author, Founder of 350.org
“This list lays down a clear marker for companies. Those that remain wedded to coal will lose their attractiveness in equity and capital markets. On the other hand, companies like India's NTPC have an opportunity to drop their coal expansion plans and instead look to renewables. That will, in time, allow them to once again attract investment from the growing list of investors moving away from coal.”
Ashish Fernandes, Senior Climate and Coal Campaigner, Greenpeace India
“For GLS’ sustainability research, Urgewald’s data is an important and reliable information source for our issuer ratings.”
Marc Pfizenmaier, Sustainability Analyst, GLS Bank (Germany)
“The GCEL is an excellent tool for political work with an important goal: The phase out of fossil fuels, beginning with coal. The GCEL covers the entire coal supply chain from coal mines to customers. And what is especially important: The GCEL reveals who is planning to build new coal plants worldwide - even though we all know that coal needs to stay in the ground if we want our blue planet to remain livable.”
Barbara Unmüßig, Executive Director, Heinrich Böll Foundation
“Urgewald’s Global Coal Exit List is a very comprehensive database with the potential to be an important signpost for the divestment movement and for investors. The data Urgewald provides has never been available in such a complete form before now. It offers a thorough insight into the coal industry worldwide and helps us understand, who is behind this dirty industry. NGOs, political bodies and investors should take inspiration from the Global Coal Exit List as a detailed new instrument, to accelerate the exit from coal.”
Reinhard Bütikofer, Member of the European Parliament, The Green Party