Thermal Coal Phase-out
Allianz is removing thermal coal from proprietary investment and underwriting portfolios.
In 2021, we ceased insuring or investing in infrastructure facilities that derive more than half their revenue from thermal coal.
From 2023, we will no longer provide property & casualty insurance or make proprietary investments in companies that:
- Plan new coal mines, generate more than 25% of revenue from thermal coal mining, or produce more than 10M tons of thermal coal annually.
- Have more than 5000MW of installed coal generation capacity, build new coal-fired power plants, or generate more than 25% of revenue from coal annually.
- Generate more than 25% of revenue through providing services such as maintenance, repair or construction to a coal mine or electricity generation.
Thresholds to tighten progressively, mostly over the period to 2030 with complete phase out by 2040. Exclusion from restrictions may apply to clients with credible decarbonisation plans consistent with the Paris Agreement.
Latest Signatories
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