A new report by the group Market Forces has identified a global list of 200 companies with the biggest coal, oil and gas expansion plans. This group of companies is called 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.
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.
USS’s latest investments show that as of 30th September 2025, USS has holdings in 54 of these 200 companies*. Far from addressing the climate emergency as they claim, USS is actively worsening it. Write to the Chair of the USS Board, Dame Kate Barker, using the following USS contact form to tell them to get out of fossil fuels now.
*These are the following: (the last six were accidentally omitted from the original post and added on 6/1/26)
- AKER BP ASA
- ANGLO AMERICAN PLC
- ARC RESOURCES LTD
- BHP GROUP LTD
- BLACKSTONE GROUP INC/THE
- BP PLC
- CANADIAN NATURAL RESOURCES LTD
- CHENIERE ENERGY INC
- CHEVRON CORP
- CHUBU ELECTRIC POWER CO INC
- CLP HOLDINGS LTD COMMON
- CONOCOPHILLIPS
- COTERRA ENERGY INC
- DELEK GROUP LTD
- DEVON ENERGY CORP
- DIAMONDBACK ENERGY INC
- DUKE ENERGY CORP
- ENBRIDGE INC
- ENGIE SA
- ENI SPA
- ENTERGY CORP
- EOG RESOURCES INC
- EQT AB
- EQUINOR ASA
- GLENCORE PLC
- ITOCHU CORP
- KINDER MORGAN INC
- MITSUBISHI HEAVY INDUSTRIES LTD
- NTPC LTD
- OCCIDENTAL PETROLEUM CORP
- OMV AG
- OPC ENERGY LTD
- PETROLEO BRASILEIRO SA – PETROBRAS
- REPSOL SA COMMON
- RWE AG
- SANTOS LTD
- SHELL PLC
- SIEMENS ENERGY AG
- SNAM SPA
- SSE PLC
- SUNCOR ENERGY INC
- TC ENERGY CORP
- TECK RESOURCES LTD
- TOKYO ELECTRIC POWER CO HOLDINGS INC
- TOKYO GAS CO LTD
- TOURMALINE OIL CORP
- WOODSIDE ENERGY GROUP LTD
- XINYI GLASS HOLDINGS LTD
- INPEX CORP
- MARUBENI CORP
- MITSUI &CO LTD
- SEMPRA
- TOTALENERGIES
- WEC ENERGY GROUP INC