Thursday 1 March 2018

Italian insurance giant to divest €2bn from coal

An Italian insurance giant has announced plans to divest €2 billion (£1.6bn) from coal.

Generali aims to increase its exposure to green businesses instead, with plans to invest €3.5 billion (£2.9bn) mainly through green bonds and infrastructures.

Group CEO Philippe Donnet said: “Protecting the environment and adopting effective actions to tackle climate change are central issues for Assicurazioni Generali.

“With this action plan, which follows a series of initiatives undertaken in the last several years, the company strengthens its leadership position as a responsible business, to contribute to a healthy, resilient and sustainable society.”