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

Joins Powering Past Coal Alliance

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

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