Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2022-06-02 00:00:00
GFANZ must tighten the screw on fossil fuel expansion
2022-05-19 00:00:00
BNP Paribas and Société Générale: stop financing climate destruction and human rights abuses
2022-05-04 00:00:00
Barclays is big on beef and burning
2022-05-04 00:00:00
Standard Chartered’s 2022 AGM dominated by shareholder alarm over fossil financing
2022-05-20 15:14:47
Seven financiers abandon TotalEnergies' EACOP pipeline in a week
2021-12-16 13:33:02
Cambo oil field "paused" following pressure on Shell & banks
2021-12-16 13:04:42
Equator Principles improve transparency after BankTrack shows the way
2021-11-02 11:03:26
ANZ launches human rights grievance mechanism in a first for the global banking sector
Connect
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
2022-03-08 00:00:00
BankTrack Annual Report 2021
2022-03-03 00:00:00
Locked out of a Just Transition: fossil fuel financing in Africa
2021-12-14 00:00:00
Actions speak louder: Assessing bank responses to human rights violations
2021-10-26 00:00:00
Equator Compliant Climate Destruction: How banks finance fossil fuels under the Equator Principles
See all publications
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Home › News
Allianz Says Goodbye to Coal Industry
Start

By: urgewald
2015-11-24

Contact:

Katrin Ganswindt, coal expert urgewald: +49 176/32411130, katrin@urgewald.org
Heffa Schücking, director urgewald: +49 160/96761436, heffa@urgewald.org
Moritz Schröder, press spokesman urgewald: +49 176/64079965, moritz@urgewald.org


Share this page:

Go to:
Start

This morning, the world's largest insurance company, Allianz, announced its decision to undertake a major divestment action from the coal sector. In reaction to a campaign by the German environment organization, urgewald, Allianz stated it will divest shares of mining companies that derive over 30% of their revenues from coal and divest shares of utilities that produce over 30% of their power through firing coal. The Munich-based insurer will also phase out its bond investments in these companies. According to Allianz, the divestment action will amount to 4 billion €.

"This is incredibly good news for our climate and much bigger than the divestment action taken by AXA," says Heffa Schücking, director of urgewald. Based on a threshold of 50%, the French insurer AXA announced the divestment of around 500 million € from the coal industry last May. "If well-implemented, Allianz's divestment action sets a new standard for insurance companies and asset managers all over the world," adds Schücking. "

"We are glad that first the Norwegian Parliament and now the board of Allianz is convinced of our divestment approach. Climate-oriented divestment requires threshold values not only for the turnover, but also for the production of electricity. This hits both the mine operators as well as coal-based utilities like RWE and Vattenfall, "says Schücking.

Over the past months, urgewald has been calling on Deutsche Bank and Allianz to make a ‘Pledge for Paris' as these two institutions are Germany's largest investors in the global coal industry. "Allianz has shown it is willing to step up and take action for our climate. Now it's time for Deutsche Bank to move," says urgewald divestment campaigner, Kathrin Petz. In order to make sure Deutsche Bank gets the message, urgewald activists delivered 7,000 petitions and dumped several wheelbarrows full of coal at the bank's Frankfurt headquarters this morning.

More information:

Campaign "Paris Pledge": http://dotheparispledge.org/

Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted