Insurer Allianz to stop selling insurance to coal companies
Europe’s largest insurer Allianz has stopped selling policies to coal companies in an effort to fight climate change, report Oliver Ralph and Olaf Storbeck in the Financial Times. The company said it would immediately pull its coverage from single coal-fired power plants and coal mines, and that it would phase out all coal risks by 2040. Allianz added it would stop investing in companies that do not cut their greenhouse gas emissions, which would apply to 664 billion euros of investments, according to the article.
Find the FT article in English here.
Read the Allianz press release in English here.