Which Banks Are Keeping Coal Alive?

Demolition of coal-fired power station in Ferrybridge, Credits: bojangles via Shutterstock

650 commercial banks provided loans and underwriting services worth $385 billion to the coal industry in the last 3 years. 

Top 5 Coal Financing Regions




92% of coal financing came from only 5 countries and regions. Discover the insights:

China Japan USA Canada Europe

How The World Can Quit Coal

At least 30% of our planet’s temperature rise is due to burning of coal, and 2024 was the hottest year on record at about 1.55°C above pre-industrial levels. Meeting the commitment of the 2021 Glasgow Climate Summit to phase coal down and out has become more important than ever as more and more of the world’s population is exposed to record-breaking wildfires, droughts, heat waves, floods and other extreme weather events. 

Quitting coal is the easiest of the many steps required to achieve net-zero emissions by 2050. Yet many of the world’s commercial banks stubbornly refuse to acknowledge that phasing out coal requires phasing out coal financing.

"Our findings are a call to action for asset owners, financial regulators and civil society organizations. Investors need to reconsider their investments in the banks that are keeping coal alive. Regulators need to curtail financial flows that increase systemic risk. And civil society organizations need to call out each and every bank that is perpetuating the coal industry’s stranglehold on our future."

Katrin Ganswindt, Director of Financial Research at Urgewald, Germany 

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