UK Banks, Global Insurers Are Ditching Coal, Report Finds
Law360, London (February 28, 2019, 3:33 PM GMT) -- The world's largest institutional investors, including Barclays Bank UK PLC and major insurers such as Standard Chartered PLC, are abandoning coal over climate change concerns that have rendered the fossil fuel a "stranded asset," according to a think tank.
Many financiers are dropping coal-powered plants from their portfolios or limiting their access to capital when they want to expand, a report released Wednesday by the Institute for Energy Economics and Financial Analysis said. The result is a squeeze on the funds available for mergers and acquisitions regardless of where in the world the project is based.
Insurers including Standard Chartered are following...
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