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Coal Divestment

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.

 

Global Financial Institution Type Country and/or Headquarters Coal Finance Restrictions Restrictions Introduced Latest
Restriction
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.
2020-02
2021-01
2021-10
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%.
2015-11 2021-05
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.
2016 2019-06
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.
2020-07
2020-10
2021-07
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
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
Bâloise Holding Insurer / Reinsurer Switzerland Issuers with coal sales > 30%   2019-12
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.
2020 2021-09
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.
2019-05 2020-04
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.
  2019-02
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.
2015-10 2020-07
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)
until 2030
2017-03 2021-11
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
DnB ASA Bank Norway     2016-08
DZ Bank Bank Germany Excluding coal-fired power plants only 2017-03 2017-11
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.
  2021-10
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.
2019-08 2021-09
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.
2018-06 2020-03
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.
2018-06
2019-04
2021-12
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
2020-04
2021-12
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
2017-12
2022-03
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.
2020-05 2021-07
Investec Bank South Africa 86% of its energy book is low emissions.
Committed to the Paris Agreement, and to public transparency in annual reporting.
  2020-03
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
2017-09 2021-02
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
2020-01
2021
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
  2021-03
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.
2020-12 2021-05
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.
2015-11 2020-04
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.
2015-10 2020-05
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
2021-11
2022-02
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
Nordea Bank Finland     2015-11
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
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
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
thermal coal
  2020-01
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
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.
2018-09
2020-03
2022-03
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.
2017-04 2020-03
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.
2015
2020-01
2021-09
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
coal.
  2020-04
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.
2017-04 2020-05
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

 

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