AXA Pledges Exit From Coal, Focus On 'Green' Investments
Law360, London (November 27, 2019, 4:04 PM GMT) -- French insurer AXA will exit all investments in the coal industry across the world within just over 20 years, the company said on Wednesday, as more financial companies come under increasing pressure to move away from fossil fuels.
AXA said it would stop investing in the coal industry across the 35 countries of the Organisation for Economic Co-Operation and Development by 2030, and across the rest of the world by 2040.
It comes amid regulatory pressure toward sustainable investment. The European Union is currently drawing up rules that will require financial companies to disclose the carbon footprint of their investment portfolio....
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