“Coal stocks are toxic” – guest commentary
Investors should get rid of coal company shares, such as those of German utility RWE, as these are risky at times of planned coal-exits around the world, writes Jan Erik Saugestad, CEO of Storebrand Asset Management, Norway's largest private asset manager, in a guest commentary in WirtschaftsWoche. “Coal stocks are toxic, and if an energy company expands its coal activities, there is only one option for us: exit.” Rising costs for CO₂ emissions will further lead to investors leaving energy companies that rely on coal, writes Saugestad.
Find the guest commentary in German here.
For background, read the CLEW article German financial sector expects EU standards to boost green finance and the interview Germany laggard in assessing fossil investment risks - Deutsche Börse.