Allianz is phasing out coal

Aware of the two-degree-target of the Paris climate negotiations as well as the economic risks involved, CEO Oliver Bäte announced that Allianz will stop financing coal-based business models. It will no longer invest in companies that derive more than 30 percent of revenue from coal mining or generate over 30 percent of their energy from coal.

Andreas Gruber, Chief Investment Officer of Allianz, is giving a statement on German television ZDF (available in German only)

Climate protection will become part of our core business

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