Dutch Insurer Aegon To Cut Investment In Coal Industry

Law360, London (January 13, 2020, 2:16 PM GMT) -- Dutch Insurer Aegon said Monday it will scale back its investments in coal companies, as financial services companies come under mounting pressure to adopt climate-friendly portfolios.

Aegon said it would cease investing in companies that own 10 gigawatts of coal-fired power plants, or those that produce 20 million tonnes of coal a year.

The move follows similar announcements from other insurers. French insurer Axa said in November that it would exit all investments in the coal industry over the next 20 years.

Aegon said that it does not invest in companies that generate more than 30% of their revenues from coal...

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