Majapahit Finance BV, Majapahit Holding BV, PT Indo Raya Tenaga, PT PLN (Persero) (Perusahaan Listrik Negara), PT PLN Energi Primer Indonesia, PT PLN Indonesia Power, PT PLN Nusantara Power, PT PLN Nusantara Renewables
| Coal Industry Sector: | Power, Services, Mining |
| Thermal Coal Share of Revenue: |
41% |
Thermal Coal Expansion:
|
Power, Mining |
Listed on the Global Coal Exit List 2025
| Midstream Expansion:
“Pipeline” means a company is developing ≥100km of oil or gas pipelines. “LNG” means a company is developing LNG terminals with ≥1Mt of annual gas liquefaction capacity.
|
LNG |
| Power Expansion:
“Gas-fired” for all companies developing ≥ 100 MW of gas-fired power capacity and “Oil-fired” for all companies developing ≥ 100 MW of oil-fired power capacity.
|
Gas-fired |
Listed on the Global Oil & Gas Exit List 2025
96 results Total investment of current selection: $ 1,563 M
| # | Name | Name | Name | Type | HQ | Country of HQ | Country of HQ | Sectors | subsidiaries | Shares $M | Bonds $M | Total $M | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | PT PLN (Persero) (Perusahaan Listrik Negara) | BlackRock | investment | USA | Indonesia | North America | South-East Asia | $ 278 M | $ 278 M | |||||||
| 2 | PT PLN (Persero) (Perusahaan Listrik Negara) | California Public Employees' Retirement System (CalPERS) | investment | USA | Indonesia | Pension Fund | North America | South-East Asia | $ 258 M | $ 258 M | ||||||
| 3 | PT PLN (Persero) (Perusahaan Listrik Negara) | Allianz (incl. AGI, PIMCO, Allianz SE) | investment | Germany | Indonesia | Europe (EU) | South-East Asia | $ 207 M | $ 207 M | |||||||
| 4 | PT PLN (Persero) (Perusahaan Listrik Negara) | Vanguard | investment | USA | Indonesia | North America | South-East Asia | $ 92 M | $ 92 M | |||||||
| 5 | PT PLN (Persero) (Perusahaan Listrik Negara) | HSBC | investment | United Kingdom | Indonesia | Europe (non EU) | South-East Asia | $ 74 M | $ 74 M | |||||||
| 6 | PT PLN (Persero) (Perusahaan Listrik Negara) | Doubleline Capital | investment | USA | Indonesia | North America | South-East Asia | $ 48 M | $ 48 M | |||||||
| 7 | PT PLN (Persero) (Perusahaan Listrik Negara) | Fuh Hwa Securities Investment Trust | investment | Taiwan | Indonesia | East Asia | South-East Asia | $ 48 M | $ 48 M | |||||||
| 8 | PT PLN (Persero) (Perusahaan Listrik Negara) | JPMorgan Chase | investment | USA | Indonesia | North America | South-East Asia | $ 47 M | $ 47 M | |||||||
| 9 | PT PLN (Persero) (Perusahaan Listrik Negara) | Royal Bank of Canada | investment | Canada | Indonesia | North America | South-East Asia | $ 41 M | $ 41 M | |||||||
| 10 | PT PLN (Persero) (Perusahaan Listrik Negara) | TIAA | investment | USA | Indonesia | North America | South-East Asia | $ 39 M | $ 39 M | |||||||
| 11 | PT PLN (Persero) (Perusahaan Listrik Negara) | Prudential Financial (US) | investment | USA | Indonesia | North America | South-East Asia | $ 36 M | $ 36 M | |||||||
| 12 | PT PLN (Persero) (Perusahaan Listrik Negara) | Neuberger Berman | investment | USA | Indonesia | North America | South-East Asia | $ 32 M | $ 32 M | |||||||
| 13 | PT PLN (Persero) (Perusahaan Listrik Negara) | UBS | investment | Switzerland | Indonesia | Europe (non EU) | South-East Asia | $ 25 M | $ 25 M | |||||||
| 14 | PT PLN (Persero) (Perusahaan Listrik Negara) | Franklin Resources | investment | USA | Indonesia | North America | South-East Asia | $ 25 M | $ 25 M | |||||||
| 15 | PT PLN (Persero) (Perusahaan Listrik Negara) | Mitsubishi UFJ Financial | investment | Japan | Indonesia | East Asia | South-East Asia | $ 24 M | $ 24 M | |||||||
| 16 | PT PLN (Persero) (Perusahaan Listrik Negara) | Equitable Holdings | investment | USA | Indonesia | North America | South-East Asia | $ 23 M | $ 23 M | |||||||
| 17 | PT PLN (Persero) (Perusahaan Listrik Negara) | Invesco | investment | USA | Indonesia | North America | South-East Asia | $ 18 M | $ 18 M | |||||||
| 18 | PT PLN (Persero) (Perusahaan Listrik Negara) | Fidelity International | investment | Bermuda | Indonesia | North America | South-East Asia | $ 16 M | $ 16 M | |||||||
| 19 | PT PLN (Persero) (Perusahaan Listrik Negara) | BPER Banca | investment | Italy | Indonesia | Europe (EU) | South-East Asia | $ 15 M | $ 15 M | |||||||
| 20 | PT PLN (Persero) (Perusahaan Listrik Negara) | Lord, Abbett & Co | investment | USA | Indonesia | North America | South-East Asia | $ 13 M | $ 13 M | |||||||
| 21 | PT PLN (Persero) (Perusahaan Listrik Negara) | Virtus Investment Partners | investment | USA | Indonesia | North America | South-East Asia | $ 12 M | $ 12 M | |||||||
| 22 | PT PLN (Persero) (Perusahaan Listrik Negara) | Manulife Financial | investment | Canada | Indonesia | North America | South-East Asia | $ 12 M | $ 12 M | |||||||
| 23 | PT PLN (Persero) (Perusahaan Listrik Negara) | TCW Group | investment | USA | Indonesia | North America | South-East Asia | $ 10 M | $ 10 M | |||||||
| 24 | PT PLN (Persero) (Perusahaan Listrik Negara) | State Street | investment | USA | Indonesia | North America | South-East Asia | $ 10 M | $ 10 M | |||||||
| 25 | PT PLN (Persero) (Perusahaan Listrik Negara) | Ameriprise Financial | investment | USA | Indonesia | North America | South-East Asia | $ 10 M | $ 10 M |