While the pledge to phase out coal gained the support of 23 more countries at the U.N. climate conference in Glasgow, big users of coal, the dirtiest of fuels, shunned the move. The COP26 summit aims to find ways to… Read More ›
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World Bank’s International Finance Corporation adopts climate change specific financing, aims to reduce financing for coal to zero by 2030
In a significant development, the World Bank’s private-sector arm has introduced new climate change specific conditions, which encourages commercial banks and other financial lenders to wind down support for coal projects in Asia and Africa. The International Finance Corporation (IFC),… Read More ›
Insurer Chubb Ltd cuts exposure to coal-related companies
Chubb joins a growing stream of financial institutions who are scaling back their exposure to coal. In a significant development, insurer Chubb Ltd disclosed, it has decided to cut its exposure to coal-powered plants operators and that it would not… Read More ›
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