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France's biggest insurer Axa axes coal investments

2015-05-25 02:21:00| Climate Ark Climate Change & Global Warming Newsfeed

Sydney Morning Herald: France's largest insurer will scrap holdings in coal companies because of concerns about climate change, broadening support for the fossil-fuel divestment movement to a major mainstream investor. Axa SA Chief Executive Officer Henri de Castries said he's working to sell 500 million euros ($702 million) of coal assets and triple "green investments" to 3 billion euros by 2020. He joined investors in Paris saying companies must act to contain global warming. "There is one thing which is absolutely...

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