The number of financial institutions globally that have committed to coal divestments has doubled in the past three years, but it remains negligible in China, according to a new study.
While more than 200 “globally significant” companies now have formal policies restricting investment in coal mining or coal-fired power projects, just three financial institutions from China have established a formal coal policy, the Institute for Energy Economics and Financial Analysis (IEEFA) said in its “200 and Counting: Global Financial Institutions are Exiting Coal” report on Thursday.
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