Munich Re unsure about coal business exitReprints
Munich Reinsurance Co. said that it was unsure about ending all activities linked to coal in a bid to fight climate change, ET EnergyWorld reported. Germany-based Allianz S.E. said that it would stop insuring coal power plants and mines and gradually end investments in coal businesses by 2040. Joerg Schneider, chief financial officer at Munich Re, said that the reinsurer would think carefully about an exit from coal to avoid sending any negative signals.