Climate Summit Bonn: Launch of the “Global Coal Exit List”
The “Global Coal Exit List”
(GCEL) is the first database that identifies
all major coal companies operating throughout the value chain
from coal mining and coal trading to coal power. The GCEL is a tool for
investors, banks and insurance companies to estimate the coal content of their
portfolios and initiate
effective divestment steps.
Portfolio managers, academics, journalists and NGOs can use the customizable online database to research the ‘Who is Who’ of the coal industry. The GCEL provides the latest information on companies’ annual coal production, their coal share of revenue, their installed coal-fired capacity and coal share of power generation. It enables users to see which companies are expanding their coal activities and who the biggest coal players are in certain markets. The database will be published on the webpage coalexit.org. This webpage already provides information on a key part of the coal universe, the top 120 coal plant developers worldwide.
Urgewald is best known for its successful coal divestment campaigns on the Norwegian Government Pension Fund and Allianz, one of the world’s largest insurance companies.
Up to now, coal companies could rely on banks, insurers and investors to provide financial services to them or to buy their bonds and shares. Together with other NGOs, Urgewald calls on the finance industry to blacklist coal companies.