MACIF to end exposure to thermal coal worldwide from 2030

Written by Adam Cadle

04/06/2020

French mutual insurance company MACIF is strengthening its commitments to end its exposure to thermal coal worldwide from 2030.

This choice is fully in line with the CSR policy of the MACIF group to fight climate change and preserve of global biodiversity.

This exit strategy for thermal coal consists in excluding from its investments companies that do not meet the criteria defined in its policy. It concerns investments in activities linked to thermal coal, ie the exploitation of coal mines and the production of electricity from coal.
MACIF will no longer invest in issuers which draw more than 30% of their turnover from the production or exploitation of thermal coal. From 2021, this threshold will be lowered to 20%. In addition, the group will no longer invest in issuers with a coal-based electricity production capacity, or default installed capacity, exceeding 30%. From 2021 this threshold will be lowered to 20%.

Finally, it will cease investing in issuers whose installed power of coal-fired power plants exceeds 10GW. From 2021 this threshold will be lowered to 5GW.

“The will of the MACIF Group is to continue to act for the climate and therefore to get out of thermal coal. It is a necessity that has been at the heart of our concerns and our responsible investment policy since 2018,” MACIF Group director of investments Sabine Castellan Poquet said.

“From 2030, MACIF will no longer be exposed to thermal coal, thanks to our common coal strategy with OFI Asset Management. Our efforts also relate to the accompaniment and support of companies towards the energy transition. As a responsible investor, we make sure to support companies that work for the development of energy efficiency and climate protection solutions.”

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