Urgewald is a non-profit environmental and human rights organization. It is based in Sassenberg, a small town in western Germany, and it also runs an office in Berlin. For 25 years, Urgewald has been fighting against environmental destruction and for the rights of people harmed by corporate profit interests. During these 25 years, Urgewald has evolved from a small group of people to a powerful organization.
The depth of analysis conducted by Heffa Schuecking and her team is superb.Tom Sanzillo, Director of Finance, IEEFA institute
A New Dimension of Coal Divestment
We all know the coal industry is the number one driver of climate change, damages peoples’ health and destroys the environment. But do we really know which companies belong to the industry? And more importantly, do banks and investors know? From our portfolio analyses and in-depth discussions with many major banks and insurers, we have reached the conclusion that financial institutions systematically underestimate their holdings in the coal industry. To address this blind spot, we have developed a unique divestment tool: The Global Coal Exit List (GCEL).