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AIA to pull out of all coal investments by 2028

Written by Adam Cadle
17/03/2021

AIA is to pull out of all coal investments by 2028.

While, in an earlier announcement, AIA limited divestment to companies which derive at least 30% of their revenue from coal, it said that the new approach is applied to all coal companies “regardless of revenue and coal capacity”.

Through its “AIA Kick Out Coal” campaign, the Insure Our Future network has called on AIA to divest from coal since November 2020.

Minyoung Shin, sustainable finance adviser to the Insure Our Future network, said: “The pollution, climate destruction and premature death caused by the coal industry are in direct contradiction to the mission of life insurance companies. We welcome AIA’s stance on coal investments and ask it to stand by the commitment to offer full disclosure and accountability of its divestment progress and urge other Asian life insurers to follow suit.”

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