AIA Sells Out of Almost $10 Billion of Coal Investments
- Insurer sold close to $10 billion of stocks, bonds and loans
- AIA commits to net-zero greenhouse gas emissions by 2050
This article is for subscribers only.
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.