Legal & General Coal

According to our latest report, Reclaim Finance & Urgewald, Legal & General still holds $7.2 billion in the coal industry, accounting for more than 20% of all UK investment in this sector as of January 2021. The content of this website is provided for general information purposes only and does not constitute advice of any kind (including investments, taxes or legal aspects) on which you should rely, nor a recommendation to buy or sell products, services or investments. If any part of our Terms and Conditions is held to be illegal, invalid or otherwise unenforceable (including, but not limited to, provisions in which we exclude or limit our liability to you), these Terms will be severed to the extent of such illegality, invalidity or unenforceability and severed from the Terms and Conditions, and the enforceability of the remaining Terms and Conditions. remain in full force. Lead: BHP Billiton, which we helped recruit a new CEO. Unusually for its industry, the company has publicly discussed the “growing regulatory and social pressures” that make coal unattractive. Our prediction of a long-term structural phase-out of coal could have a significant impact on investors. This website and any material or information published on it have not been endorsed by the Central Bank of Bahrain, which assumes no responsibility for its content. No public offer to purchase financial products or services is made in the Kingdom of Bahrain and this website may not be generally accessible or displayed to the public in Bahrain.

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This website is intended for use only by investment professionals. It is not intended for use by individuals or the public in Brunei. As used on the Website, the term “investment professional” generally refers to a person who is either an institutional investor or a person licensed to provide capital markets services under the Securities Market Ordinance 2013. Stragglers: China Construction Bank remains the world`s largest funder of coal mining and facilities. Although the company has increased its lending to green projects, it does not disclose the total GHG emissions associated with its operations. L&G`s current global coal exclusion policy is too weak to change that: a leaf sits on a pile of coal in Youngstown, Ohio, U.S., September 30, 2020. REUTERS/Shannon Stapleton/File Photo Applicable laws may require certain information or communications to be in writing. By using the Site, you agree that communications with Legal & General may be electronic.

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Once the foundation of the global energy system, coal`s position seems increasingly threatened by the energy transition. Earlier this year, Britain was able to meet all its electricity needs for twelve hours without having to turn on a single coal generator, which has not been the case since 1882. Just 50 years ago, more than 1000 mines were in operation. Now there are only ten left and there is a risk of further closures. As the UK government aims to completely phase out coal use in just eight years, we look at whether the drastic decline of coal in the UK is a window into the future of coal around the world. The exclusion thresholds are too high to divest diversified mining and utility companies, even if they are coal giants. The policy also creates space for new coal, as it does not exclude coal developers. That means L&G can keep investing in a diversified group like BHP Group, one of the 100 largest greenhouse gas emissions of all time, which produces 27 million tons of coal a year and has plans to expand coal.