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Aegon trimming coal investments

Dutch insurer Aegon NV will gradually reduce its coal investments over the course of the decade.

The company noted that it already excludes companies that produce more than 30% of their revenues from the exploration, mining and refining of thermal coal. Aegon introduced a declining revenue threshold starting 2020 that will be lowered in increments to 5% or below in 2029.

Aegon will stop investing in companies that own more than 10 gigawatts of coal-fired electricity generation capacity and have plans to extend their capacity. It will also no longer invest in companies that produce more than 20 million tons of thermal coal annually and are expanding their coal-related operations.