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Banking on Coal 2014 - Report

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Banking on Coal 2014 is a research study produced by BankTrack. It presents an analysis of the portfolios of 92 leading commercial banks, particularly looking at their investments in the coal industry, both in the coal mining and coal power sectors. It is a sequel of the Bankrolling Climate Change (2011) report which focused on both coal mining and coal power, and the Banking on Coal (2013) which focused only on coal mining. It was published at the same time as the Coal Banks website.

The following charts provide a general overview on some of the findings of the report.  

The first chart shows the type of finance of the 93 coal companies covered. It reveals that the majority of coal financing is provided via investment banking through shares and bonds issues (54%), and a minority by corporate loans (46%).

The second chart illustrates the growth curve of coal financing for the 65 coal companies for which we have financial data from 2005 to 2013. Coal funding was more than fourfold more important in 2013 than in 2005, a 360% increase.

73% of the 373 billion euros of coal financing revealed by the financial research were funded by only 20 global banks : the list of the top 20 "coal banks" below. The top 2 global coal banks are unchanged from the 2011 ranking : JPMorgan Chase (21,520 million euros) and Citi (20,425 million euros), while RBS moved up from rank nulmber seven to number three. Chinese banks have risen in importance in the new ranking. These numbers reveal the hidden part of banks activities, far from their far-reaching climate commitments that we gathered on this page.

When gathered by country of origin, the following chart reveals that 62% of coal financing for the period 2011 to 2013, for which we have financial data for the 93 coal companies covered, comes from commercial banks based in only three countries: China (28%), US (23%) and UK (11%).

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Bank of America
Bank of America is an American multinational banking and financial services corporation and is the second largest bank holding company in the United States by assets, and…
Bank of China
Bank of China is one of China's Big Four joint-stock commercial banks. Bank of China offers commercial banking, investment banking, insurance, asset management, aircraft…
Bank of Tokyo-Mitsubishi UFG
Bank of Tokyo - Mitsubishi UFJ is the largest bank in Japan. It was established on January 1, 2006, with the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd.…
Barclays
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management…
BNP Paribas
BNP Paribas is one of the main banks in Europe. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas.…
China Construction Bank
China Construction Bank (CCB) is a leading commercial bank in China providing a comprehensive range of commercial banking products and services. CCB's business consists of…
Citi
Citigroup Inc., doing business as Citi, is a major American financial services company based in New York, NY. Citigroup was formed from a merger between Citicorp and financial…
Crédit Agricole
The Crédit Agricole Group is a unified but decentralised group consisting of 39 Regional Banks, Crédit Agricole S.A. and many subsidiaries. It includes Crédit…
Credit Suisse
Credit Suisse Group was founded in 1856 and is headquartered in Zurich, Switzerland. It serves companies, institutional clients and high-net-worth private clients worldwide,…
Deutsche Bank
Deutsche Bank was founded in 1870 and is a leading global investment bank. It has operations throughout the world and has a strong presence in Germany and Europe. The bank´s…
Goldman Sachs
Goldman Sachs (NYSE: GS) was founded in 1869 and is a leading global financial services firm that is headquartered in New York. It provides an array of financing…
HSBC
Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC operates from around 6,100 offices in 72 countries and…
ICBC
ICBC (Industrial and Commercial Bank of China) is a joint-stock commercial bank based in the People's Republic of China.  Founded in 1984, ICBC overtook Citi to become…
JPMorgan Chase
JPMorgan Chase is one of the Big Four Banks of the United States (along with Bank of America, Citigroup and Wells Fargo). The firm was formed in…
Morgan Stanley
Morgan Stanley was one of the four investment banks that for decades ruled on Wall Street (with Lehman Brothers, Merril Lynch and JPMorgan Chase). The corporation, founded…
RBS
RBS was founded in 1727 and is one of the major UK banks. RBS has 40 million customers using the financial services of over 30 brands, including NatWest, Direct Line, Churchill,…
UBS
Modern UBS was formed through a merger of the Union Bank of Switzerland and the Swiss Bank Corporation in June 1998.  UBS is headquartered in Zurich and Basel and it…
UniCredit
The UniCredit Group is the result of the merger of nine of Italy's largest banks and the subsequent combination with the German HVB Group and the Italian Capitalia Group.…
Wells Fargo
Wells Fargo is one of the big banks in the United States, located in San Fransisco. In october 2008, Wells Fargo acquired the troubled bank Wachovia, at that moment the sixth…
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