Burning the climate: 120 top coal plant developers

Burning the climate: 120 top coal plant developers

New coal-fired power plants are going to harm the climate for decades to come. This would push the world into a climate collapse. Altogether, about 850 new coal plants are in planning in 62 countries. This is happening against the resistance of the local population. Banks, investors and insurance companies are driving the aggressive coal expansion by providing loans and financial support.

Urgewald has identified the 120 companies, which are driving the biggest and most dangerous new coal power plants. This list of 120 companies is a future-oriented, forward-looking divestment tool. It enables investors to pull out their money from the companies on a coal expansion course. Implementing this unique tool gives investors the chance to meet their responsibility for a coal-free future.

Coal ‘frontier’ countries

It is especially worrying that many new coal plants are planned in ‘frontier’ countries, which have little or no coal-fired capacity, and will thus lock them into a coal-dependent future for decades to come. “Egypt does not have a single coal-fired power station, but if companies like Shanghai Electric, ACWA Power and Orascom have their way, over 17,000 MW of coal-fired capacity will be installed in the country,” says Schuecking.

Pakistan’s coal capacity is slated to rise from 190 MW to 15,278 MW. In Bangladesh, coal-fired capacity will grow from 250 MW to 15,960 MW and in Myanmar from 160 MW to 5,130 MW. In total, coal plant developers aim to build new plants in 14 countries, which presently have zero coal-fired capacity. And in 19 further countries increases of over 100% of coal-fired capacity are in the pipeline. “In most of these countries, there is massive public resistance to these plans,” says Lidy Nacpil, coordinator of the Asian People’s Movement on Debt and Development (APMDD). “Banks and investors need to blacklist companies that are driving ever new countries and regions into a destructive cycle of coal dependency.”

I Paesi nel mondo dove si stanno programmando la costruzione di nuovi impianti a carbone (Fonte: Coalexit)

Source: Coalexit

Ranking the biggest coal plant developers

The world’s largest coal plant developer, India’s National Thermal Power Corporation (NTPC), is planning to build over 38,000 MW of new coal capacity in India and Bangladesh.

Next in line are the Chinese companies SPIC (31,587 MW), China Datang (28,945 MW), Shenhua (26,014 MW), China Huadian (25,810 MW), China Huaneng (20,750 MW) and China Guodian (17,250 MW). All in all, Chinese companies account for 45% of the projects in Urgewald’s database, but around 1/7 of these projects are located outside of China. “If the Chinese government truly wants to position itself as a global climate leader, it needs to rein in its state-owned companies that are flooding the world with new coal power plants,” says Trusha Reddy, Coordinator of the International Coal Network.

Companies from other Asian countries such as South Korea and Japan also play a prominent role in the coal power pipeline. Japan’s Marubeni is the 26th largest coal plant developer worldwide and is involved in joint ventures totaling over 13,000 MW of new coal in 9 countries. Among these are many projects in ‘frontier’ countries like Botswana, Egypt, Mongolia and Myanmar.

The largest African coal plant developer is South Africa’s Eskom, which is ranked 15th, and the largest European coal plant developer is Poland’s PGE, which is ranked 30th in Urgewald’s database.

La potenza in megawatt delle nuove centrali a carbone in programma nei 25 Paesi dove è attesa la maggior espansione (Fonte: CoalSwarm)

Source: CoalSwarm

International investment in the global coal plant pipeline

“Although the majority of coal plant developers are from Asia, international banks and investors from Europe, North America and Australia all play an important role in financing their dirty business,” says Heffa Schuecking. Bonds and shares of top coal developers such as NTPC, KEPCO, Marubeni, Adani or China Resources are routine positions in the portfolios of large international investors and banks.

Even institutions that have already taken steps to divest from the coal industry such as AXA, Allianz or CalSTRS still hold investments in coal plant developers. “What we’ve learned from our research, is that coal-based revenue or power generation thresholds fail to capture many of the coal plant developers,” explains Schuecking. Only 1/3 of the top coal plant developers have a coal share of revenue that is higher than 30%, the divestment threshold applied by Allianz and the Norwegian Government Pension Fund.

Source: Coalexit.org

Date: September 2017

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Tags assigned to this article:
climate changecoalcostsenergy policyinvestments

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