M&G pledges to terminate coal-powered portfolios by 2040

Joins Powering Past Coal Alliance

Pedro Gonçalves
An accelerated phase-out of coal is essential, according to M&G's John Foley

An accelerated phase-out of coal is essential, according to M&G's John Foley

M&G plans to end investment in thermal coal in developed countries by 2030 and in emerging markets by 2040 as part of its target to reach net zero carbon emissions by 2050.

To meet the target, the fund house has joined the Powering Past Coal Alliance as it bids to achieve net-zero emissions across its £339bn portfolios. M&G launches climate-focused impact fund The asset manager said it will "use its influence to accelerate the transition to a greener, cleaner economy with ambitious plans to cease all investment in new coal mines and coal-fired plants". It will cease all investments in new coal mines and coal-fired plants, while excluding public companies which cannot commit to phasing out coal by the deadline. M&G will be taking this approach to therm...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on ESG

Investors pulled £2.7bn from equity strategies

Flows into sustainable strategies slow as equities continue to suffer

Follows 62% drop in Q2

clock 17 August 2022 • 2 min read
Demand for key inputs will rise sharply, as nations look to accelerate their renewables programmes.

Greenflation: What are the drivers and how long will it last?

Metal price rises 'structural'

clock 12 August 2022 • 3 min read
Invests in companies with strong biodiversity credentials.

HSBC launches biodiversity screened ETF

SFDR Article 8

clock 11 August 2022 • 1 min read