New research has revealed that over 100 major global financial institutions have introduced policies restricting coal funding. The research from the Institute for Energy Economics and Financial Analysis has found that global capital is leaving the coal sector at fast pace. Since 2013, coal exit announcements have occurred at a rate of over one per month form banks and insurers holding more than US$10 billion worth of assets under management.
Since the start of 2018, there have been 34 new or improved announcements from global institutions restricting coal, making an average of one new announcement every two weeks. The first restriction came from The World Bank in 2013 with the 100th coming from the European Bank of Reconstruction and Development. Since the beginning of 2019, moves have come from banks in the UK, Canada, Finland, South Africa and Austria.
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