Financials actors are leaving phase-out coal initiatives... Will coal be back?

Financials actors are leaving phase-out coal initiatives... Will coal be back?

The Powering Past Coal Alliance (PPCA) is an initiative launched after the COP23 by the UK and Canadian governments in 2017. It requires members to advocate for coal phase-out and to promise not to provide new financial services nor investments to unbated coal-fired power.

It has around 180 members in the world gathering national and subnational governments, businesses, and organisations.

According to Responsible Investor, financials companies such as HSBC, Swiss Re Storebrand and Ethos are leaving the initiative because

• They already comply with it
• They are prioritizing other initiatives and get lost with the great amount of initiatives already existing

However, the PPCA announced that other members are still joining the initiative.

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