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M&G pledges to end thermal coal investments

Pledge is part of overall aim to achieve net zero carbon emissions across investment portfolios by 2050

By

David Ricketts

'An accelerated phase-out of coal is essential if we want to limit global warming and ensure a sustainable future for our planet” says Foley, chief executive of M&G
'An accelerated phase-out of coal is essential if we want to limit global warming and ensure a sustainable future for our planet” says Foley, chief executive of M&G Photo: Terry Murden/Alamy

M&G, the UK-listed fund management group, will begin to phase out coal across its investments, making it the latest asset manager to commit to ending its investment in fossil fuels.

The asset manager, which oversees close to £340bn, said it will “use its influence to accelerate the transition to a greener, cleaner economy with ambitious plans to cease all investment in new coal mines and coal-fired plants”.

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