To date, over 100 and counting globally significant asset managers/owners with assets under management (AuM) greater than US$50 billion, and banks and insurers/reinsurers with AUM or loans outstanding larger than US$10 billion have announced their divestment from coal mining and/or coal-fired power plants.
|ABN Amro||Bank||Netherlands||Both coal mining and coal-fired power plants||2017-05|
|ABP / APG||Asset Manager / Owner||Netherlands||By the first quarter of 2023, ABP will divest from all fossil fuel producers in phases; the majority of which is expected to be sold.
By 2025, will have reduced the carbon footprint of its asset portfolio by 40% from 2015 levels.
|ABSA||Bank||South Africa||Will not fund new coal-fired electricity generation unless under extenuating circumstances||2020-04|
|Achmea||Insurer / Reinsurer||Netherlands||>30% of the revenue||2020-06|
|Aegon N.V.||Insurer / Reinsurer||Netherlands||Substantially ceased coal insurance and divested coal assets||2016-05||2020-01|
|African Development Bank Group (AfDB)||Multilateral Development Bank||Côte d'Ivoire||2019-09|
|AG2R La Mondiale||Insurer / Reinsurer||France||Substantially ceased coal insurance and divested coal assets||2018-07||2020-03|
|Ageas||Insurer / Reinsurer||Belgium||No new investment in thermal coal||2019-12||2020-02|
|Agence Française de Développement (AFD)||Multinational Development Bank||France||Reducing total fossil fuel exposure||2014||2019|
|AIA||Insurer / Reinsurer||Asia Pacific||Divesting all directly managed equity and fixed income exposure to coal mining and coal-fired power businesses by end of 2021 for equity and 2028 for fixed income; and not permitting any new investments within businesses involved directly in mining coal or generating electricity from coal.||2021-03|
|AIG||Insurer / Reinsurer||U.S.||By January 2030, phasing out underwriting of all existing operation insurance risks and ceasing new investments in clients that derive >30% their revenues from coal-fired power, thermal coal mines or generate >30% their energy production from coal.||2022-03|
|Akbank||Bank||Turkey||Will no longer finance coal||2021-04|
|Alecta||Asset Manager / Owner||Sweden||No investments in mining companies with more than 10% turnover from thermal coal and energy companies with over 30% of their turnover from energy production based on thermal coal.||2019|
|Allianz||Insurer / Reinsurer||Germany||Substantially ceased coal insurance and divested coal assets.
From 2023 will no longer provide property and casualty insurance to coal companies above 25%.
|Amundi||Asset Manager / Owner||France||Exclusion of companies generating more than 25% of revenues from coal mining extraction or with annual coal extraction >100 Mt without intention to reduce.
Exclusion of companies with revenue in coal mining extraction and coal power generation >50% of their revenue.
Exclusion of coal power generation and coal mining extraction companies with a threshold between 25% and 50% with no intention to reduce the % of revenue from coal power generation or coal mining extraction.
|ANZ (Australia and New Zealand Banking Group)||Bank||Australia||Will not finance new builds of conventional coal-fired power plants||2019-12||2020-10|
|Asian Infrastructure Investment Bank (AIIB)||Multilateral Development Bank||China||2017-01|
|Asset Management One||Asset Manager / Owner||Japan||Has set 30 trillion-yen worth of AUM (53% of its AUM, as of end of March 2021) as its 2030 interim goal, on the path to achieving net zero greenhouse gas emissions by 2050 or earlier.||2021-09|
|ATP Group||Asset Manager / Owner||Denmark||Will stop putting money in external funds that hold fossil fuel investments||2020-02|
|Autriche Oesterreichische Kontrollbank AG (OeKB)||Export Credit Agency||Austria||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Aviva||Insurer / Reinsurer||UK||Substantially ceased coal insurance and divested coal assets||2015-07||2017|
|Aware Super (was FirstState)||Asset Manager / Owner||Australia||By July 2021, had completely divested from thermal coal.
By 2023, a 30% emissions-reduction target across its investment portfolio, and a 45% cut by 2030.
|AXA||Insurer / Reinsurer||France||Fully phasing out coal by 2030 in EU and OECD countries and by 2040 elsewhere||2015-05||2019-11|
|AXIS Capital||Insurer / Reinsurer||Bermuda||2019-10|
|Bâloise Holding||Insurer / Reinsurer||Switzerland||Issuers with coal sales > 30%||2019-12|
|Banco Bilbao Vizcaya Argentaria (BBVA)||Bank||Spain||Both coal mining and coal-fired power plants||2018-02||2019-03|
|Banco Nacional de Desenvolvimento Econômico e Social (Brazilian Development Bank) (BNDES)||Development Finance Institution||Brazil||2016-10|
|Banco National de Comercio Exterior||Export Credit Agency||Mexico||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Banco Santander||Bank||Spain||By 2030, will have stopped providing financial services to power generation clients with >10% revenues dependent on thermal coal, and will eliminate all exposure to thermal coal mining worldwide.||2018-11||2021-02|
|Bank J. Safra Sarasin||Bank||Switzerland||2017|
|Bank of China||Bank||China||From 4QCY2021, except for projects already signed, will no longer provide financing for new coal mining and new coal power projects overseas||2021-09|
|Banque de France (BdF)||Central Bank||France||Planning to exit the coal sector by 2024. This exclusion only applies to Banque de France’s “own funds” and pension fund.||2018-03||2021-01|
|Barclays||Bank||UK||Both coal mining and coal-fired power plants||2018-04||2020-04|
|Bayerische Landesbank (BayernLB)||Bank||Germany||Exclude financing for the construction of new coal-fired power plants||2020-05|
|Belfius Bank||Bank / Insurer||Belgium||Does not finance companies that are active in the extraction of coal||2019-12|
|BlackRock||Asset Manager / Owner||U.S.||Will cut companies that derive a quarter or more of their profits from thermal coal from its actively managed portfolios.||2020-01|
|BNP Paribas||Bank||France||Both coal mining and coal-fired power plants||2015-05||2020-05|
|Bpifrance Assurance Export||Export Credit Agency||France||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Caisse de dépôt et placement du Québec (CDPQ)||Asset Manager / Owner||Canada||By 2030, no longer financing any new thermal coal projects in addition to gradually phasing most coal-powered assets in industrialized countries out of our portfolio.
By 2040, eliminating them fully worldwide.
|Caisse des Dépôts et Consignations (CDC)||Asset Manager / Owner||France||Will not invest in listed equity and bonds of companies whose activity’s exposure to thermal coal exceeds 10% of the turnover.
Committed not to finance new coal-based energy production capacities (greenfield) on its equity investments and its credit activities in territorial projects.
|CaixaBank||Bank||Spain||Will assume no credit risk in new projects which has exposure in coal: new mines or expansion of existing mines.
Will assume no credit risk in new long-term transactions or arrangements requested by companies with the following characteristics: Companies at which coal extraction accounts for over 40% of their consolidated revenue.
|California State Compensation Insurance Fund||Insurer / Reinsurer||U.S.||Substantially ceased coal insurance and divested coal assets||2017-06|
|Cathay Financial Holdings 國泰金控||Bank||Taiwan||Cathay United Bank will no longer provide loans to any coal-fired power plants. Cathay Life Insurance’s investment and lending exclusion list now includes coal-fired power plants that are not actively transitioning to renewable energy.||2020-08||2020-08|
|Chubb Insurance||Insurer / Reinsurer||U.S.||Substantially ceased coal insurance and divested coal assets||2019-07|
|CIMB||Bank||Malaysia||Phasing out coal from its portfolio by 2040||2020-12|
|Citi||Bank||U.S.||No project-related financing for new thermal coal mines or expansions of existing mines.
By 2030, a plan to phase out financing for companies deriving ≥25% of their revenue from thermal coal mining, with interim targets.
No project-related financing for new coal-fired power plants or expansions of existing plants.
|CNP Assurances||Insurer / Reinsurer||France||Will exit thermal coal by 2030 in EU and OECD countries, and by 2040 in the rest of the world||2018||2020-02|
|Commerzbank||Bank||Germany||Both coal mining and coal-fired power plants||2018-03|
|Commonwealth Bank of Australia||Bank||Australia||Zero thermal coal exposure by 2030||2019-08|
|Compañía Española de Seguros de Crédito a la Exportación (CESCE)||Export Credit Agency||Spain||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Convex Insurance||Insurer / Reinsurer||UK||Will not insure the construction or operation of any new thermal coal mine and/or its dedicated infrastructure||2022-02|
|Credit Suisse||Bank||Switzerland||Will gradually reduce
credit exposure and lending, bond and equity underwriting to companies deriving revenues from coal power generation (without complete capture and storage of carbon emissions)
|Crédit Agricole Group||Bank||France||Both coal mining and coal-fired power plants||2015-03||2020-10|
|Crédit Mutuel Asset Management||Asset Manager / Owner||France||By 2030, completely removing funding from coal energy. Worldwide ban on new coal mines and new coal plants as well as a corporate ban for new coal pure businesses.||2020-02|
|Danske Bank Group||Bank||Denmark||Restrictions on companies getting revenue from tar sands and thermal coal extraction and generation||2020-01||2021-03|
|DB Insurance||Insurer / Reinsurer||South Korea||Stopping coal project financing||2019-12|
|DBS Bank||Bank||Singapore||Both coal mining and coal-fired power plants||2018-01||2021-04|
|Deka Investment||Asset Manager / Owner||Germany||From May 1, 2020, its' actively managed mutual funds will no longer be allowed to invest in companies that generate more than 30% of their revenue from coal mining or more than 40% from coal-based electricity generation.||2020-04|
|Desjardins Group||Bank||Canada||Will not invest in, or provide finance to companies that operate or develop coal mines; that build, extend or renovate coal mines, power plants or infrastructure; or that have greater than 10%, or 5 GW, installed coal power generation capacity||2020-12|
|Deutsche Bank||Bank||Germany||Both coal mining and coal-fired power plants||2017-01||2020-07|
|Deutsche Investitions- und Entwicklungsgesellschaft (DEG) - a subsidiary of KfW||Development Finance Institution||Germany||2016-05||2020-11|
|DZ Bank||Bank||Germany||Excluding coal-fired power plants only||2017-03||2017-11|
|E.SUN FHC||Bank||Taiwan||Will phase out coal by 2035. Includes companies with more than 5% of their revenue from business activities in coal including coal-fired power, coal mining and infrastructure, coal trading, and coal transport.||2019||2022-04|
|Eksport Kredit Fonden (EKF)||Export Credit Agency||Denmark||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2017-10|
|Erste Group Bank AG||Bank||Austria||Progressively reducing financing for thermal coal mining and power generation sectors to achieve net zero by 2030||2021-03|
|Euler Hermes Aktiengesellschaft||Export Credit Agency||Germany||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|European Bank for Reconstruction and Development (EBRD)||Multilateral Development Bank||UK||2018-12|
|European Investment Bank (EIB)||Multilateral Development Bank||European Union||No longer considering new financing for unabated, fossil fuel energy projects, including gas, from the end of 2021 onwards||2013-07||2019-11|
|Export Development Canada (EDC)||Export Credit Agency||Canada||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2019|
|Export Finance and Insurance Corporation (Efic)||Export Credit Agency||Australia||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Export-Import Bank of the United States (Ex-Im Bank)||Export Credit Agency||U.S.||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Federal Bank Limited||Bank||India||Will discontinue financing of any new-coal related projects, including coal-fired power projects||2021-10|
|Fidelity International||Asset Manager / Owner||Bermuda||By 2040, will phase out its exposure to thermal coal.
By 2050, achieving net-zero greenhouse gas emissions.
|Finnvera||Export Credit Agency||Finland||2017-10|
|First Republic Bank (BankFWD)||Bank||U.S.||Committed to ending lending for the following industries: fossil fuel extraction, fossil fuel pipelines, natural gas distribution, fossil fuel electric generation, nuclear electric power generation.||2021-12|
|FirstRand Limited||Bank||South Africa||Will no longer finance new coal-fired power plants.
From 2026, will no longer provide direct project finance to new coal mines.
|FMO||Development Finance Institution||Netherlands||Within 5 years, will phase out direct investments in integrated mid/down-stream fossil fuel activities for power generation||2020-11||2021-06|
|Folksam Group||Insurer / Reinsurer||Sweden||Reduced exposure to energy sector within its international equity portfolio by around 50%.||2019-05||2021-01|
|Första AP-fonden (AP1); Fourth Swedish National Pension Fund (Fjärde AP-fonden AP4); and Sjunde AP-fonden (AP7)||Asset Manager / Owner||Sweden||As of March 2020, AP1 is divesting all fossil fuel companies. AP4 divested more than 20 thermal coal
companies to reduce climate risk (using a threshold of 20% of revenues). AP7 has a climate policy of
active engagement including pursuing shareholder resolutions to enact change.
|Generali Group||Insurer/Reinsurer||Italy||By 2030, will phase out issuers operating in the thermal coal sector in OECD countries, and 2040 in the rest of the world||2018-11||2021-06|
|Government Pension Fund Global (GPFG)||Asset Manager / Owner||Norway||Has progressively tightened its coal exclusion criteria, including divesting 71 coal companies to-date and reduced its investments in oil and gas||2015||2019-06|
|Groupama Asset Management||Asset Manager / Owner||France||2019|
|Groupe des Assurances Mutuelles Agricoles (Groupama)||Insurer / Reinsurer||France||Substantially ceased coal insurance and divested coal assets||2018|
|Hana Financial Group||Bank||South Korea||Halting financing for projects related to building coal-fired power plants at home and abroad. Plans to be carbon neutral by 2050||2021-03|
|Hannover Re / Talanx Group||Insurer / Reinsurer||Germany||From 2020, have not written any new
business in thermal coal. By 2038, will no longer cover any risks connected with the mining of and power generation from power plant and thermal coal in the entire portfolio of property and casualty reinsurance business.
|Hanwha Group||Insurer / Reinsurer||South Korea||Six financial divisions will not fund the construction of any coal-fired power plants, nor will they underwrite bonds issued by special purpose companies (SPCs) that have been established to build coal-powered plants locally or abroad, and will not underwrite general bonds that would finance the construction of coal-fired plants||2021-01|
|HESTA||Asset Manager / Owner||Australia||By 2030, reduce absolute carbon emissions by 33% across its investment portfolio, and 100% by 2050.||2020-06|
|HSBC Holdings||Bank||UK||By 2030, phase-out of thermal coal financing in EU/OECD; worldwide by 2040||2016-10
|Hyundai Marine & Fire Insurance||Insurer / Reinsurer||South Korea||Will stop underwriting coal power projects||2021-06|
|IAG||Insurer / Reinsurer||Australia||Ceasing underwriting entities predominately in the business of extracting fossil fuels and power generation using fossil fuels by 2023||2019-11|
|IFM Investors||Asset Manager / Owner||Australia||By 2030, will make no new investments in any infrastructure asset that garners more than 20% of its revenue from thermal coal, and will exit thermal coal-reliant assets.||2021-09|
|Ilmarinen (Keskinäinen Eläkevakuutusyhtiö Ilmarinen)||Insurer / Reinsurer||Finland||Excluding thermal coal mining only||2016||2020-02|
|ING Group||Bank||Netherlands||Both coal mining and coal-fired power plants||2015-11
|Inter-American Development Bank (IDB)||Bank||US||2020-09|
|Intesa Sanpaolo S.p.A.||Bank||Italy||By 2025, will terminate its exposure to counterparties belonging to the coal mining sector.
Will not grant new loans for investments in coal-mining projects or the construction of coal-fired plants.
|Investec||Bank||South Africa||86% of its energy book is low emissions.
Committed to the Paris Agreement, and to public transparency in annual reporting.
|JPMorgan Chase & Co||Bank||U.S.||Will not refinance loans on existing coal plants or provide money or advice to companies making most of their revenue from coal. Existing loans would b||2020-02|
|KB Financial Group||Bank||South Korea||Halting financing construction of coal-fired power plants||2020-09|
|KBC Group||Bank||Belgium||From 1 April 2021, mandatory transition plan for coal firms and coal-fired power stations.
From 1 January 2021, mining companies that extract coal excluded from all investment funds, as are utilities deriving >25% of energy production from coal
|KLP||Asset Manager / Owner||Norway||Substantially ceased coal insurance and divested coal assets.||2019-05|
|Korea Development Bank (KDB)||Bank||South Korea||2021-04|
|Korea Trade Insurance Corporation (K-SURE)||Export Credit Agency||South Korea||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Korporacja Ubezpieczén Kredytów Eksportowych (KUKE)||Export Credit Agency||Poland||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Kyobo Life Insurance Co., Ltd.||Insurer / Reinsurer||South Korea||2021-06|
|Landesbank Baden-Württemberg (LBBW)||Bank||Germany||No financing of projects that are run by energy suppliers for the purpose of building new or expanding existing coal-fired power plants or to mining companies for the purpose of constructing new coal mines or expanding existing coal mines.||2019-03|
|Laurentian Bank||Bank||Canada||Will not directly finance the exploration, production or development of coal.||2021-12|
|Legal & General Investment Management Limited (LGIM)||Asset Manager / Owner||UK||Divestment only applies to LGIM’s Future World funds.||2019-06|
|LGT Group||Asset Manager / Owner||Liechtenstein||Excludes companies that produce coal or generate energy from coal to support the achievement of temperature targets set out in the Paris Agreement.||2019|
|Liberty Mutual||Insurer / Reinsurer||U.S.||2019-12|
|Lloyd's||Insurer / Reinsurer||UK||2017-11|
|Lloyds Banking Group||Bank||UK||By 2030, will fully exit from all entities that operate thermal coal facilities. Also applying a 1.5C-aligned target to its loan book.||2018-08
|Länsförsäkringar AB||Insurer / Reinsurer||Sweden||Excluding mining companies with >5% of sales from coal; and 5% of turnover from incineration coal with exception of companies that have restructured operations||2020-10|
|M&G||Asset Manager / Owner||UK||By 2050, net zero carbon emissions across all investment portfolios.
Will exclude companies which cannot commit to a complete phase out of coal by 2030 in developed countries and 2040 in emerging markets
|Macquarie Group, including Macquarie Asset Management (which Macquarie Infrastructure and Real Assets (MIRA) belongs to)||Asset Manager / Owner||Australia||By 2040, global net zero emissions (MAM).
By 2050, global net zero emissions (MGroup).
MGroup exiting coal by 2024.
|Malayan Banking Berhad (Maybank)||Bank||Malaysia||Will no longer finance new coal activities as part of a five-year strategy||2021-05|
|Man Group||Asset Manager / Owner||UK||The Group's portfolio managers running funds will no longer be allowed to invest in companies that derive more than 30% of their revenues from producing coal or providing coal-based energy||2018-12|
|Manulife Financial Corporation (John Hancock)||Insurer / Reinsurer||Canada||2020-12|
|MAPFRE||Insurer / Reinsurer||Spain||Ended underwriting new coal projects and investing in coal companies but has not divested from sector||2019-03||2022-02|
|Markel Corporation (MKL)||Insurer / Reinsurer||U.S.||Substantially ceased coal insurance and divested coal assets||2017|
|MetLife||Insurer / Reinsurer||U.S.||No new investments in miners or utilities deriving 25% or more of their revenue from thermal coal||2020-07|
|Mitsubishi UFJ Financial Group (MUFG)||Bank||Japan||Both coal mining and coal-fired power plants||2019-07||2021-04|
|Mizuho Financial Group||Bank||Japan||Stopping financing new coal power projects and will end all loans for coal by 2050||2019-05||2020-04|
|Morgan Stanley||Bank||U.S.||Prohibits direct finance for new or expanded coal-fired power plants.
Prohibits direct finance for new thermal coal mines, and commits to phasing out financing for significant thermal coal mining companies that do not have a diversification strategy.
Prohibits direct finance for new oil and gas exploration and development in the Arctic.
|MS&AD Holdings||Insurer / Reinsurer||Japan||Exiting underwriting and investment in new coal-fired power plants||2021-06|
|Munich Reinsurance Company (Munich Re)||Insurer / Reinsurer||Germany||Substantially ceased coal insurance and divested coal assets||2018-08|
|National Australia Bank (NAB)||Bank||Australia||Excluding thermal coal mining only||2017-12|
|National Pension Service (NPS)||Asset Manager / Owner||South Korea||Implementing a strategy restricting investment in coal mining and power generation industries.||2021-05|
|Natixis||Insurer / Reinsurer and Bank||France||Withdrawal from shale oil and gas.
Completely exit thermal coal industry by 2030 for countries in EU and OECD, and 2040 for rest of the world.
Will no longer support companies that develop new capacity in coal-powered electricity generation or thermal coal mining.
|Natwest Group (previously Royal Bank of Scotland (RBS))||Bank||UK||Will not lend to new coal projects, will phase out lending to coal in the UK by 2024, and globally by 2030||2018-05
|Nedbank||Bank / Asset Management||South Africa||Will stop funding new thermal coal mines by 2025||2018-04||2021-04|
|New York City Employees' Retirement System||Asset Manager / Owner||U.S.||Divested an estimated $4b from securities related to fossil fuel companies||2021-01|
|New York State Common Retirement Fund||Asset Manager / Owner||U.S.||By 2040, net zero greenhouse gas emissions||2020-12|
|NN Group of Netherlands||Insurer / Reinsurer||Netherlands||Substantially ceased coal insurance and divested coal assets||2019-05|
|NongHyup Financial Group||Bank||South Korea||Will stop coal investments||2021-02|
|Norddeutsche Landesbank Girozentrale (NORD/LB)||Bank||Germany||Excludes the possibility of financing the construction of nuclear power plants and conventional coal-fired power plants.||2018|
|Nordic Investment Bank (NIB)||Multilateral Development Bank||Finland||2017-11|
|Norwegian Export Credit Guarantee Agency (Garantiinstituttet for eksportkreditt (GIEK))||Export Credit Agency||Norway||2017-10|
|OCBC Bank||Bank||Singapore||Excluding coal-fired power plants only||2019-04|
|Pensioenfonds van de Metalektro (PME)||Asset Manager / Owner||Netherlands||Has sold all its investments in fossil fuels||2021-09
|Pensioenfonds Zorg en Welzijn (PFZW)||Asset Manager / Owner||Netherlands||From 2020, will be phasing out investments in coal and oil extracted from tar sands.||2015-11||2022-02|
|Pension Insurance Corporation (PIC)||Asset Manager / Owner||UK||By 2025, no new purchases in companies that derive more than 10% of turnover from coal extraction or burning, or from Tar Sands.||2021-07|
|Pictet Group||Asset Manager / Owner||Switzerland||By December 2020, will have eliminated any exposure to companies carrying out activities related to the production and extraction of fossil fuels||2020-02|
|Ping An Bank / Ping An Insurance||Bank, Insurer / Reinsurer||China||Will not build new coal-fired power projects abroad||2021
|PNC University Banking (PNC)||Bank||U.S.||Excluding coal-fired power plants only||2017-03|
|Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (PKO Bank Polski)||Bank||Poland||Commitment to progressively reduce exposure to coal mining and coal power||2019-04||2020-09|
|Prudential Plc||Insurer / Reinsurer||UK||Has a coal exit policy as part of its net zero emissions by 2050 pledge, with an interim target for a 25% reduction in carbon emissions of all shareholder and policyholder assets by 2025||2021-05|
|QBE||Insurer / Reinsurer||Australia||By 2030, will have exited all support for the thermal coal industry.||2019-03||2021-02|
|Rabobank||Bank||Netherlands||Both coal mining and coal-fired power plants||2017-01|
|Resona Holdings||Bank||Japan||Will not provide project financing for new coal power plants||2019|
|RHB Bank Bhd||Bank||Malaysia||By 2022, will exit coal financing||2021-06|
|Rizal Commercial Banking Corporation (RCBC)||Bank||Philippines||By 2031, phasing out lending to coal-fired power plants||2020-12||2022-03|
|RobecoSAM (owned by ORIX Europe, a subsidiary of ORIX Corporation)||Asset Manager / Owner||Japan||Divested from mining companies and power producers that generate > 10% of revenue from thermal coal||2020-04||2020-09|
|RSA Insurance Group||Insurer / Reinsurer||UK||No new investments in companies generating >30%
revenue from coal mining or power generation from
|Samsung Life Insurance||Insurer / Reinsurer||South Korea||Will stop any new coal-related business, including investment, construction, and trading. Ongoing projects will be gradually closed or withdrawn from. Can still invest in a firm generating < 50% of revenue from thermal coal power projects||2020-10|
|SCOR Global Life (SCOR)||Insurer / Reinsurer||France||Substantially ceased coal insurance and divested coal assets||2017-09|
|Servizi Assicurativi del Commercio Estero (SACE)||Export Credit Agency||Italy||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Shinhan Financial Group Co., Ltd||Bank||South Korea||Will reduce its investment in the coal industry and committed to net zero carbon future||2020-10|
|Skandinaviska Enskilda Banken AB (SEB)||Bank||Sweden||Excluding coal-fired power plants only||2015-11|
|Société Générale (SocGen)||Bank||France||Both coal mining and coal-fired power plants||2015-05||2020-07|
|Sompo Holdings Inc||Insurer / Reinsurer||Japan||Will not underwrite any new insurance policy, and will stop investment and financing for new and existing coal-fired power plants and coal mines. But, will give exemptions for new and existing coal-fired power plants and mines using technologies such as carbon capture and storage or ammonia co-firing.||2022-05|
|Standard Bank of South Africa||Bank||South Africa||Prohibiting financing for construction of new coal-fired power plants and for expansion in generating capacity of existing coal-fired power plants.
By 2021, limiting thermal coal exposures to 0.70% of group loans and advances, and to
0.50% by 2030.
|Standard Chartered||Bank||UK||Both coal mining and coal-fired power plants||2016-05||2019-12|
|Storebrand ASA||Asset Manager / Owner||Norway||By 2026, total exit from coal, and carbon neutral by 2050.||2013||2019-12|
|Sumitomo Mitsui Banking Corporation (SMBC), a subsidiary of Sumitomo Mitsui Financial Group (SMFG)||Bank||Japan||Halting new financing for all coal-fired power plants, including ultra-supercritical (USC) power plants||2018-06||2021-05|
|Sumitomo Mitsui Trust Bank (SMTB)||Bank||Japan||Excluding coal-fired power plants only||2018-07|
|Suncorp||Insurer / Reinsurer||Australia||Zero thermal coal exposure by 2025||2019-07|
|Svensk Exportkredit (SEK)||Export Credit Agency||Sweden||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Svenska Handelsbanken AB||Bank||Sweden||2018|
|Swedbank||Bank||Sweden||Excludes companies mining and producing coal to more than 5% of its turnover, and is not directly financing coal-fired power plants.||2018|
|Swiss Export Risk Insurance (SerV)||Export Credit Agency||Switzerland||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|Swiss Reinsurance Company (Swiss Re)||Insurer / Reinsurer||Switzerland||Plans to completely phase-out thermal coal from its treaty reinsurance by 2030 for OECD countries and 2040 for the rest of the world||2018-07||2021-03|
|The Export-Import Bank of Korea (KEXIM)||Export Credit Agency||South Korea||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|The Hanover||Insurer / Reinsurer||U.S.||Will cease new investments in many coal and tar sands companies and partly divest from these sectors by 2025||2021-03|
|The Hartford Financial Services Group||Insurer / Reinsurer||U.S.||By close of 2023, will have exited coal-investment holdings.||2019-12||2021-11|
|The Norinchukin Bank||Bank||Japan||Tightened policy for coal-fired thermal power generation sector||2020-07|
|Toho Bank||Bank||Japan||No new coal-fired power generation||2020-05|
|Tokio Marine Holdings||Insurer / Reinsurer||Japan||Will not provide new underwriting capacities or financing to coal-fired power generation projects or thermal coal mining projects, regardless of whether they are newly constructed or not||2020-09||2021-09|
|Türk Eximbank||Export Credit Agency||Turkey||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh||2015||2017-10|
|U.S. Bancorp||Bank||U.S.||Both coal mining and coal-fired power plants||2017-04|
|UBS Group||Bank||Switzerland||Over 40% cut in carbon-related assets on the balance sheet.
Over 56% increase in core sustainable investments.
No longer providing finance where stated use of proceeds is for new offshore oil projects in Arctic, greenfield thermal coal mines or greenfield oil sands projects.
Enhanced due diligence for transactions directly related to liquefied natural gas and ultra-deepwater drilling.
|UK Export Finance (UKEF)||Export Credit Agency||UK||Excludes coal power unless Ultra Super Critical with emissions <750g CO2/kWh.
By 2050, will be entirely carbon neutral, on a net basis.
|UniCredit||Bank||Italy||Halting all lending for thermal coal projects by 2023, and increasing exposure to renewable energy sector by a quarter.||2019-11|
|Union Investment||Asset Manager / Owner||Germany||By 2025, will have ended investment in
|UNIQA Group||Insurer / Reinsurer||Austria||Substantially ceased coal insurance and divested coal assets||2019-03|
|United Nations Joint Staff Pension Fund (UNJSPF)||Asset Manager / Owner||U.S.||By end 2020, will divest from investments in publicly traded companies in the coal energy sector||2020-08|
|United Overseas Bank (UOB)||Bank||Singapore||Excluding coal-fired power plants only||2019-04|
|Varma Mutual Pension Insurance Company (Varma)||Insurer / Reinsurer||Finland||Substantially ceased coal insurance and divested coal assets||2019-01|
|Vienna Insurance Group (VIG)||Insurer / Reinsurer||Austria||Substantially ceased coal insurance and divested coal assets||2019-02|
|Westpac||Bank||Australia||Both coal mining and coal-fired power plants.
Has endorsed the Paris Agreement and an accelerated path to decarbonisation of coal mining and the power sector.
|Woori Bank||Bank||South Korea||Stopping any new project financing or bond investment into establishing coal power plants and retrieving all capital invested in existing coal projects after maturity date.||2020-12|
|World Bank||Multilateral Development Bank||U.S.||2013||2020-09^|
|Yapi Kredi||Bank||Turkey||Will not finance new coal-fired thermal power plants and new coal mining projects with its updated policies||2021-06|
|Zurich Insurance Group||Insurer / Reinsurer||Switzerland||Substantially ceased coal insurance and divested coal assets||2017-11||2019-06|