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The Fossil Fuel Expansion Index

How Australian superannuation funds are propping up the world’s most unforgivable climate polluters

Executive summary

A small number of companies around the world expanding the scale of the fossil fuel sector are responsible for the vast majority of climate damage. Current levels of global warming have recently taken us past the first climate ‘tipping point,’ all but ensuring mass dieback of warm water coral reefs around the world and risking cascading impacts that will impact the livelihoods of billions of people. The need to end the expansion of the fossil fuel sector has never been more urgent.

Market Forces has identified a global list of 200 companies with the biggest coal, oil and gas expansion plans. We call this group of companies the Fossil Fuel Expansion Index, or the FFX 200. Every company in this index is actively undermining the climate goals of the Paris Agreement and impeding the clean energy transition by expanding fossil fuels.

Take action

Tell your super fund to stop supporting coal, oil and gas expansion.

The scale of these companies’ fossil fuel expansion plans is astronomical and poses a major threat to a stable climate. Projected emissions from the expansion plans of FFX 200 companies alone would eat up more than the entire remaining global carbon budget for keeping global warming to 1.5°C. While the Intergovernmental Panel on Climate Change (IPCC) has determined that emissions from existing fossil fuel infrastructure will take us past this critical 1.5°C threshold, FFX 200 companies’ expansion plans will guarantee a trajectory towards catastrophic levels of warming.

Out of the tens of thousands of companies Australian superannuation funds could invest in, they make the choice every day to keep their members exposed to the FFX 200, while failing to hold these companies accountable for their fossil fuel expansion plans. The FFX 200 are the worst of the worst companies undermining the climate goals of the Paris Agreement and threatening a stable retirement for super fund members by driving up global emissions.

Our analysis of the default or largest investment options of Australia’s 30 largest super funds reveals these options collectively had more than AU$33 billion invested in FFX 200 companies as at 30 June 2025. While this is a significant increase from $19 billion in December 2021, there has been a clear downward trend since December 2023 when these investments totalled $39 billion. This means funds now have less of their members’ retirement savings tied up in FFX 200 companies than they did two years ago, largely due to declines in the market value of some of their largest investments such as coal miner BHP and oil and gas producer Woodside Energy.

The average super fund investment option has 5.8% of its members’ share investments in FFX 200 companies. If this average were consistent across Australia’s $4.3 trillion superannuation industry, over $130 billion of Australians’ retirement savings – an average of more than $5,300 per fund member account – could be invested in this small but dangerous group of companies driving us towards climate collapse.

While FFX 200 investments are declining far too slowly, clean energy investments are not ramping up fast enough. On average, the investment options analysed have only 2% of members’ share investments in companies listed in the Bloomberg Goldman Sachs Global Clean Energy Index.

Only one out of the largest 30 Australian super funds has no investments in FFX 200 companies: Australian Ethical. This fund has a comprehensive exclusion on companies with fossil fuel expansion plans, ruling out investments in the FFX 200. Australian Ethical has only recently become one of the largest 30 super funds, demonstrating rising consumer demand for fossil fuel-free financial products.

Despite an increase in super funds’ climate commitments in recent years and the growing urgency to cut emissions from new fossil fuel projects, only seven of the 30 investment options analysed have seen a net reduction in exposure to FFX 200 companies as a proportion of their share investments, relative to their exposure in December 2021.

Our analysis also finds that Australia’s top 30 super funds have more than three times invested in FFX 200 companies than they do in clean energy. Yet our findings also reveal investments in the Bloomberg Goldman Sachs Global Clean Energy Index, achieved double (104%) the returns of the FFX 200 over seven years. In fact, the analysis shows that major global sharemarket indices have outperformed fossil fuel companies across one, three and seven year periods.

Super funds rely on a healthy global economy to generate the best returns for their millions of members. They also have a duty to ensure the retirement savings of those members grow over the long-term. The expansion of the fossil fuel sector is the single biggest impediment to global emissions reduction efforts, threatening a stable economy and member returns. It’s alarming that under the current high global warming trajectory, member returns could decline up to 38% by 2050, according to a recent study of Australia’s top 30 super funds.

Super funds must pull out all the stops to end the coal, oil and gas expansion plans of FFX 200 companies, raising pressure on them to rapidly align with global climate goals. Otherwise, remaining invested in these companies is untenable and unjustifiable.

Key findings

Market Forces has analysed the default or largest investment options of Australia’s top 30 superannuation funds from December 2021 to June 2025 and found:

FFX key finding 1

Superannuation funds’ investments in a global list of 200 companies with the biggest fossil fuel expansion plans (the FFX 200) totalled more than $33 billion in June 2025.

FFX key finding 2

Super funds have more than three times invested in the FFX 200 than in clean energy companies. Fossil fuel investments are declining too slowly while clean energy investments are not ramping up fast enough. Investments in companies in the Bloomberg Goldman Sachs Global Clean Energy Index totalled just $9.7 billion compared with $33 billion in FFX 200 companies in June 2025. Only 2% of super funds’ share investments are invested in these clean energy companies, on average, compared to 5.8% in the FFX 200.

FFX key finding 3

Clean energy companies achieved more than double (104%) the investment returns of FFX 200 companies over the seven year period November 2018 – November 2025. Major global share indices – the Bloomberg World Index, MSCI World Index, S&P 500 and ASX 300 – and the Bloomberg Goldman Sachs Global Clean Energy Index have all outperformed the FFX 200 over this seven year period. One dollar invested in the FFX 200 in November 2018 would be worth $1.93 today, whereas a dollar invested in the Bloomberg Goldman Sachs Global Clean Energy Index would be worth $2.90.

FFX key finding 4

Market Forces estimates there could be more than $130 billion invested in FFX 200 companies across the entire superannuation sector, equating to more than $5,300 per member account. This is based on the 5.8% average exposure to FFX 200 companies across the investment options analysed, as a proportion of listed equities (share investments) as at June 2025.

FFX key finding 5

Only one out of the largest 30 Australian super funds, $14 billion fund Australian Ethical, has no investments in FFX 200 companies. Australian Ethical is the only super fund in the top 30 with a comprehensive exclusion on companies with fossil fuel expansion plans, ruling out investments in the FFX 200.

FFX key finding 6

The coal, oil and gas expansion plans of the FFX 200 companies alone would blow the entire carbon budget for limiting warming to 1.5°C, before all other global emissions are even considered. Emissions from existing fossil fuel infrastructure will already take us past the Paris Agreement’s critical 1.5°C global warming threshold, according to the Intergovernmental Panel on Climate Change (IPCC), let alone emissions from further fossil fuel developments. Projected emissions from the fossil fuel expansion plans of FFX 200 companies total 107% of the remaining global carbon budget, equivalent to 300 years of Australia’s national annual emissions, and would cause catastrophic levels of global warming when added to existing climate pollution.

FFX key finding 7

The funds with the default investment options most exposed to the FFX 200 at 30 June 2025, as a proportion of share investments, are:

  1. AMP – MySuper 1970s (7.3%)
  2. Commonwealth Super Corp – PSS Default (7.2%)
  3. Australian Retirement Trust – Lifecycle High Growth Pool (7.1%)
FFX key finding 8

The funds with the default investment options least exposed to the FFX 200 at 30 June 2025, as a proportion of share investments, are:

  1. Australian Ethical – Balanced (0.0%)
  2. ESSSuper – Balanced Growth Managed (4.2%)
  3. State Super – Balanced (4.5%)
FFX key finding 9
Only seven of the super fund investment options analysed have seen a net reduction in exposure to FFX 200 companies as a proportion of their share investments since December 2021. 19 super fund investment options have increased exposure to FFX 200 companies over this timeframe, while Australian Ethical maintained 0% exposure, and MLC had the same exposure at both disclosure periods.*

  1. UniSuper – Balanced (-2.6%)
  2. Prime Super – MySuper Balanced (-1.6%)
  3. CareSuper – Balanced MySuper (-1.3%)
  4. IOOF – Balanced Growth (-0.7%)
  5. ESSSuper – Balanced Growth Managed (-0.3%)
  6. Hostplus – Balanced (-0.2%)
  7. GESB – My West State Super (-0.1%)

* BUSSQ and State Super were excluded from this finding as they did not provide Market Forces with their December 2021 portfolio holdings disclosures upon request.

Super Funds’ investments in the FFX 200

As at 30 June 2025

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at Fund Investment option Exposure to FFX 200 (% of listed equities)* Total value of investments in FFX 200
1 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM AMP MySuper 1970s 7.3 $461 million
2 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Australian Ethical Balanced 0.0 $0
3 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Australian Retirement Trust Lifecycle High Growth Pool 7.1 $2,733 million
4 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM AustralianSuper Balanced 6.5 $9,124 million
5 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Aware Super High Growth 4.7 $2,761 million
6 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Brighter Super MySuper 6.7 $636 million
7 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM BUSSQ MySuper Balanced Growth 5.1 $117 million
8 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM CareSuper Balanced MySuper 5.9 $1,175 million
9 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Cbus Growth 5.3 $2,175 million
10 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Colonial First State FirstChoice Wholesale Growth 6.2 $98 million
11 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Commonwealth Super Corp PSS Default 7.2 $949 million
12 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Equip Super MySuper 6.3 $457 million
13 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM ESSSuper Balanced Growth Managed 4.2 $51 million
14 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM GESB My West State Super 6.0 $406 million
15 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM HESTA Balanced Growth 5.7 $2,145 million
16 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Hostplus Balanced 4.6 $1,743 million
17 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM IOOF Balanced Growth 5.6 $7 million
18 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Mercer SmartPath 1969-1973 7.0 $374 million
19 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM MLC MySuper Growth 6.7 $1,295 million
20 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM NGS Super Diversified (MySuper) 5.1 $270 million
21 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM OnePath ANZ Smart Choice 1970s 6.8 $293 million
22 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Prime Super MySuper Balanced 6.7 $226 million
23 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Rest Growth 6.7 $2,973 million
24 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Russell Investments Goal Tracker 6.1 $214 million
25 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM State Super Balanced 4.5 $23 million
26 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Super SA Triple S Balanced 5.4 $622 million
27 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Team Super High Growth 7.0 $409 million
28 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM TelstraSuper MySuper Balanced 6.0 $163 million
29 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM UniSuper Balanced 4.8 $1,219 million
30 mtomkins 01/12/2025 02:45 PM mtomkins 01/12/2025 02:45 PM Vision Super Balanced Growth 5.5 $223 million

* In order to compare funds with different allocations to publicly-traded company shares (listed equities), we calculated each fund’s investment exposure to the FFX 200 as a proportion of its total allocation to listed equities, minus any investments in pooled or managed investment fund products, such as Exchange Traded Funds (ETFs). This allows us to properly compare funds’ direct investments in FFX 200 company shares. You can read the full methodology in the Further information and methodology section.

The FFX 200 companies

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at Name Main fossil fuel activity Other identified fossil fuel activities
1 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Aboitiz Power Corp Gas power expansion
2 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Abu Dhabi National Energy Company PJSC (TAQA) Gas power expansion
3 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM ACWA Power Co Gas power expansion
4 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Adani Group Coal mine expansion Coal mine reserves, coal power expansion
5 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM AES Corporation Gas power expansion
6 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Aker BP Oil and gas expansion
7 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM ALLETE Inc Coal mine reserves
8 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Alliance Resource Partners Coal mine expansion Coal mine reserves
9 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Alpha Metallurgical Resources Coal mine reserves
10 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM An Hui Wenergy Co Ltd Coal power expansion
11 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Anglo American Coal mine reserves
12 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Antero Resources Oil and gas expansion
13 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM APA Corporation Oil and gas expansion
14 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM ARC Resources Oil and gas expansion
15 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Arch Resources Inc Coal mine reserves
16 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Aspire Mining Coal mine expansion
17 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Atlas Resources Coal mine expansion
18 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Australian Pacific Coal Coal mine reserves
19 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Bajaj Group Coal power expansion
20 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Banpu Coal mine expansion
21 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Bayan Resources Coal mine reserves Coal mine expansion
22 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Beijing Energy Clean Energy and Power Shareholding Huanan Branch Co Ltd Gas power expansion
23 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Beijing Jingneng Power Company Coal power expansion
24 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Bharat Petroleum Oil and gas pipelines expansion Oil and gas expansion
25 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM BHP Coal mine expansion Coal mine reserves
26 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Blackstone Inc Oil and gas expansion
27 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM BP Oil and gas expansion
28 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Bumi Resources Coal mine reserves
29 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Canadian Natural Resources Oil and gas expansion
30 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Cenovus Energy Oil and gas expansion
31 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Cheniere Energy Inc LNG terminals expansion
32 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Chevron Oil and gas expansion
33 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM China Cinda Asset Management Coal mine reserves Coal mine expansion
34 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM China Coal Xinji Energy Co Ltd Coal power expansion
35 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM China Energy Engineering Corporation Coal power expansion
36 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM China Power International Development Ltd Coal power expansion
37 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM China Resources Power Holdings Coal power expansion
38 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM China Shenhua Energy Company Ltd Coal power expansion
39 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Chord Energy Corporation Oil and gas expansion
40 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Chubu Electric Power Gas power expansion
41 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Civitas Resources Inc Oil and gas expansion
42 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM CLP Holdings Coal mine reserves
43 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM CNOOC Oil and gas expansion Gas power expansion, LNG terminals expansion
44 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM CNX Resources Oil and gas expansion
45 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Coal India Coal mine reserves Coal mine expansion, coal power expansion
46 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Comstock Resources Oil and gas expansion
47 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM ConocoPhillips Oil and gas expansion
48 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Coronado Global Resources Coal mine reserves
49 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Coterra Energy Oil and gas expansion
50 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Crescent Energy Company Oil and gas expansion
51 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Dana Gas PJSC Oil and gas expansion
52 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Datang Huayin Electric Power Co Ltd Coal power expansion
53 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Datang International Power Generation Coal power expansion Gas power expansion
54 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Delek Group Ltd Oil and gas expansion
55 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Devon Energy Oil and gas expansion
56 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Diamondback Energy Oil and gas expansion
57 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Duke Energy Corp Gas power expansion
58 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Ecopetrol Oil and gas expansion
59 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Elektroprivreda BiH dd Coal mine reserves
60 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Enbridge Inc Oil and gas pipelines expansion
61 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Energy Transfer LP LNG terminals expansion
62 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Eneva SA Gas power expansion
63 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Engie SA Gas power expansion
64 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Eni SpA Oil and gas expansion
65 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Entergy Corp Gas power expansion
66 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM EOG Resources Oil and gas expansion
67 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM EQT Corporation Oil and gas expansion Gas power expansion
68 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Equinor Oil and gas expansion
69 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Evergy, Inc. Gas power expansion
70 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Expand Energy Corporation Oil and gas expansion
71 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Exxaro Coal mine reserves Coal mine expansion
72 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM ExxonMobil Oil and gas expansion
73 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Fujian Funeng Co Ltd Coal power expansion
74 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM GAIL (India) Ltd Oil and gas pipelines expansion LNG terminals expansion
75 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM GCM Resources Coal mine expansion Coal power expansion
76 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM GD Power Development Co Ltd Coal power expansion
77 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM General Electric Company (GE) Gas power expansion
78 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Glencore Coal mine reserves Coal mine expansion
79 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Golden Energy Mines Coal mine reserves
80 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Guangdong Baolihua New Energy Stock Co Ltd Coal power expansion
81 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Guangdong Electric Power Development Co Ltd Gas power expansion Coal power expansion
82 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Guangzhou Development Group Coal power expansion
83 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Guangzhou Hengyun Enterprises Holdings Ltd Gas power expansion
84 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Gujarat Mineral Development Corporation Coal mine expansion
85 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Gujarat State Petronet Ltd Oil and gas pipelines expansion
86 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Gulf Energy Development Public Company Ltd LNG terminals expansion
87 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Gulfport Energy Oil and gas expansion
88 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM GVK Group Coal mine expansion
89 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Hess Oil and gas expansion
90 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Hindalco Coal mine expansion
91 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Huadian International Power Co Ltd Gas power expansion Coal power expansion
92 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Huaibei Mining Group Coal mine reserves Coal mine expansion
93 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Huaihe Energy Coal mine reserves Coal power expansion
94 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Huaneng Power International Gas power expansion Coal power expansion
95 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Hubei Energy Group Co Ltd Coal power expansion
96 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Indian Oil Corporation Ltd Oil and gas pipelines expansion
97 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Indika Energy Coal mine reserves
98 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Inner Mongolia Yitai Coal Co Ltd Coal mine reserves Coal mine expansion
99 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Inpex Oil and gas expansion
100 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM ITOCHU Corporation Oil and gas expansion
101 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jaiprakash Power Ventures Ltd (JPVL) Coal mine expansion
102 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jastrzebska Spolka Weglowa SA Coal mine reserves
103 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jiangsu Xukuang Energy Co Ltd Coal power expansion
104 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jiangxi Ganneng Co Ltd Coal power expansion
105 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jilin Electric Power Co Ltd Coal power expansion
106 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jindal Steel & Power Ltd Coal mine reserves Coal power expansion
107 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jinneng Holding Shanxi Electric Power Co Ltd Coal power expansion
108 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Jointo Energy Investment Co, Ltd Hebei Coal power expansion
109 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM JSC NC KazMunayGas (KMG) Oil and gas expansion
110 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Kinder Morgan Inc LNG terminals expansion
111 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Korea Electric Power Corporation (KEPCO) Gas power expansion
112 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Korea Gas Corporation (KOGAS) LNG terminals expansion
113 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Kosmos Energy Ltd Oil and gas expansion
114 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Manila Electric Co Gas power expansion
115 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Marubeni Corporation Gas power expansion
116 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Matador Resources Company Oil and gas expansion
117 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Mitsubishi Corporation Coal mine expansion Oil and gas expansion , coal mine reserves
118 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Mitsubishi Heavy Industries Ltd Gas power expansion
119 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Mitsui & Co Oil and gas expansion
120 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Mongolian Mining Corporation Coal mine reserves
121 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM NACCO Industries Coal mine reserves
122 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM National Fuel Gas Oil and gas expansion
123 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Navitas Petroleum LP Oil and gas expansion
124 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM New Fortress Energy LNG terminals expansion Gas power expansion
125 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM New Hope Group Coal mine expansion Coal mine reserves
126 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM NextDecade Corporation LNG terminals expansion
127 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM NHPC Ltd Coal power expansion
128 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM NLC India Coal mine expansion Coal mine reserves, coal power expansion
129 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Northern Oil and Gas Inc Oil and gas expansion
130 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM NRW Holdings Ltd Coal mine reserves
131 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM NTPC Coal power expansion Coal mine expansion, coal mine reserves
132 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Occidental Petroleum Corporation Oil and gas expansion
133 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Oil India Oil and gas pipelines expansion
134 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM OMV Oil and gas expansion
135 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM ONGC Oil and gas pipelines expansion Oil and gas expansion
136 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM OPC Energy Ltd Gas power expansion
137 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Ovintiv Inc Oil and gas expansion
138 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Peabody Energy Coal mine reserves
139 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Permian Resources Corporation Oil and gas expansion
140 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Petrobras Oil and gas expansion
141 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM PetroChina Oil and gas pipelines expansion Oil and gas expansion
142 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Polska Grupa Energetyczna (PGE) Coal mine reserves
143 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM PowerChina Coal power expansion
144 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM PT Alamtri Resources Indonesia Tbk Coal mine reserves Coal power expansion
145 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM PT Bukit Asam Coal mine reserves
146 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM PT Golden Eagle Energy Tbk Coal mine reserves
147 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM PTT Public Company Ltd Oil and gas expansion
148 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Qatar Electricity and Water Company QPSC Gas power expansion
149 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Range Resources Oil and gas expansion
150 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Repsol Oil and gas expansion
151 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM RioZim Coal power expansion
152 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Romgaz SA Oil and gas expansion
153 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM RWE Coal mine reserves
154 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM San Miguel Corp Gas power expansion
155 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Santos Oil and gas expansion
156 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Sasol Coal mine expansion Coal mine reserves
157 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Saudi Aramco Oil and gas expansion Oil and gas pipelines expansion
158 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM SDIC Power Holdings Co Ltd Coal power expansion
159 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Semirara Mining and Power Corp Coal mine expansion
160 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Sempra LNG terminals expansion
161 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Shaanxi ENERGY Investment Co Ltd Coal power expansion
162 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Shanghai Electric Power Co Ltd Coal power expansion
163 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Shanxi Coking Coal Group Coal mine reserves Coal mine expansion
164 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Shanxi Huayang Group Coal mine expansion
165 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Shell plc Oil and gas expansion LNG terminals expansion
166 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Shenzhen Energy Group Gas power expansion Coal power expansion
167 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Shivee-Ovoo JSC Coal mine reserves
168 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Sichuan Energy Investment Anju Gas Power Generation Co Ltd Gas power expansion
169 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Siemens Energy AG Gas power expansion
170 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Sinopec LNG terminals expansion Oil and gas expansion
171 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM SJVN Ltd Coal power expansion
172 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM SK Inc Oil and gas expansion
173 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM SM Energy Oil and gas expansion
174 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Snam SpA Oil and gas pipelines expansion
175 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Southern Co Gas power expansion
176 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM SSE PLC Gas power expansion
177 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Stanmore Resources Coal mine expansion
178 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Suncor Energy Oil and gas expansion
179 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Tata Power Co Ltd Coal mine reserves
180 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM TBEA Co Ltd Coal mine reserves
181 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM TC Energy Corporation Oil and gas pipelines expansion
182 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Teck Resources Coal mine expansion Coal mine reserves
183 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM TerraCom Coal mine expansion
184 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Thungela Resources Ltd Coal mine expansion Coal mine reserves
185 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Tokyo Electric Power Co Gas power expansion
186 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Tokyo Gas Co Ltd Oil and gas expansion
187 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM TotalEnergies Oil and gas expansion LNG terminals expansion, oil and gas pipelines expansion
188 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Tourmaline Oil Oil and gas expansion
189 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Vedanta Coal mine expansion
190 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Vista Energy SAB de CV Oil and gas expansion
191 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM WEC Energy Group Inc. Gas power expansion
192 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Whitecap Resources Oil and gas expansion
193 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Whitehaven Coal Coal mine expansion Coal mine reserves
194 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Woodside Energy LNG terminals expansion Oil and gas expansion
195 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Xinjiang Joinworld Co Ltd Coal mine reserves
196 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Xinyi Glass Holdings Ltd Coal power expansion
197 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Yancoal Australia Coal mine expansion Coal mine reserves
198 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Yankuang Group Coal mine expansion Coal mine reserves
199 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM YPF Oil and gas expansion
200 mtomkins 01/12/2025 02:59 PM mtomkins 01/12/2025 02:59 PM Zhejiang Zheneng Electric Power Co Ltd Coal power expansion

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