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New UserHong Kong’s AIA Group Sells Nearly $10 Billion of Coal Investments
08 Dec 2021
AIA Group Ltd. has sold off almost $10 billion of investments in coal mining and coal-fired power businesses as pressure grows on financial firms to cut ties with the sector.
The insurer completed the entire sale of directly managed equity and fixed income portfolios in October, seven years ahead of its original target, according to a statement. It said it won’t make new investments in businesses directly involved in coal mining or generating electricity from coal.