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Allianz: the future lies with renewable energy, not coal – 25 November

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Allianz SE, one of the world’s largest financial asset managers, stated yesterday that they would decrease investments in companies using coal and increase investments in those focusing on wind power over the next 6 months.

If companies accrue more than 30% of sales from coal mining or coal generates more than 30% of electricity, Allianz will no longer invest in them. This decision comes before next week’s UN COP21 conference in Paris, and could provide significant clout behind any discussions raised of the economics of renewable energies.

Having managed €1.9tn of assets in the US, Germany, France, Italy, Britain and the Asia-Pacific region in 2014, this decision from Allianz provides a marked change in the industry. Some experts are estimating that this decision would affect around €4bn of coal investments.

Allianz have received praise from the environmental activist group 350.org, who stated “as the world’s largest insurance company, Allianz knows a thing or two about risk – and there’s no greater risk for the climate than continuing to invest in an industry that is wrecking the planet”. Allianz’s decision to divest from coal will weaken the fossil fuel industry’s political influence, as it sends a clear signal to investors that the world is moving towards renewable energy, and away from fossil fuels.

Allianz are convinced that climate-damaging investments won’t pay off in the future, and therefore will double wind energy investments to €4bn. Whilst supporting the climate negotiations in Paris, Allianz have also sent a strong message to the industry and capital markets by taking this positive step towards reducing our reliance on fossil fuels.

Read the full article here.

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