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Citi Vows to Stop Working with Thermal Coal-Mining Companies

Photographer: Andrew Harrer/Bloomberg

Citigroup Inc. will stop providing financial services to thermal coal-mining companies over the next 10 years to help accelerate the economy’s shift away from fossil fuels.

By 2025, the bank won’t provide underwriting and advisory services to the industry and will cut its credit exposure in half, Citigroup said Monday in a statement. It plans to eliminate its exposure entirely by 2030.