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Suncorp stops insuring thermal coal projects

Posted On: Jul. 26, 2019 6:12 AM CST

Coal-fired power plant

Australia-based insurer Suncorp Group Ltd. will no longer invest in, finance or insure new thermal coal mines and power plants, and will not underwrite any existing thermal coal projects after 2025, The Guardian reports. "We will seek to increase exposure to businesses that have a positive environmental impact, including renewable energy generation and technology," an official said.

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