The global coal industry has been the recipient of trillions of dollars from commercial banks and investors between January 2019 and November 2021, according to a report published by the non-governmental organization Urgewald.
What Happened: The new report determined that commercial banks in six countries — the U.S., Canada, the U.K., China, India and Japan — provided $1.5 trillion in loans and underwriting services to companies on the 2021 Global Coal Exit List of the largest coal plant operators and producers. This accounted for 80% of recent coal industry financing and investment.
