Allianz to stop insuring single coal-fired power plants

Germany-based insurer Allianz S.E. said that it will immediately stop insuring single coal-fired power plants and coal mines following criticism from environmental groups, Reuters reported. Allianz said that it would continue to insure companies generating power through multiple sources, including coal and other fossil fuels. The insurer is looking to phase out any coal insurance by 2040.

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