World Economy

Allianz to End Coal Investments

Allianz to End Coal InvestmentsAllianz to End Coal Investments

German insurance and asset management giant Allianz has said it wants to drop all investment in coal, DW reported. The announcement came shortly before a crucial UN climate summit in Paris aimed at keeping global warming at bay. Europe’s largest insurer and asset management company told German public broadcaster ZDF it was aiming to gradually withdraw all its investment in coal. Allianz chief investment officer Andreas Gruber said the Munich-based company did no longer want to remain invested in coal-fired power stations or coal mines, given the resource’s dubious role as a climate killer.