While the world looked the other way, corporate giants abandoned coal: SMH

"The decisions to exit coal by big financial institutions is carefully tracked by Australian energy finance analyst Tim Buckley, who says 133 globally significant financial institutions have announced their exit from coal, 10 in the past two weeks. That, he says, is "triple the run-rate of last year".

On April 17 Austria eliminated coal from its grid when it closed its last coal-fired plant. "Coal power in Austria is history," said the utility chief. 

"The future belongs to renewable energy."
In the same week Sweden closed its last coal-fired plant two years earlier than planned. The two countries join Belgium celebrating coal-free status."

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"On the last day of the month Allianz, one of the world’s biggest insurers with an astronomical investment book, said it would not invest in coal or insure it.

Coal-fired power would be verboten. It will exclude dealings with any corporate that derives more than 30 per cent of its revenue from coal (in two years to be 25 per cent). Farewell also to any partner owning infrastructure that services coal, such as ports or rail, which it now views as long-term toxic and stranded assets.

Once a huge financier of coal, Allianz confirms a massive pivot to renewables."


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