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BNP Paribas Cardif trims coal exposure

BNP Paribas Cardif is reducing its exposure to coal and said it now no longer finances any power generation business for which coal-fired power accounts for more than 30% of its installed capacity.

The insurance division of BNP Paribas SA also plans to invest €3.5 billion in green projects by the end of 2020, up from an earlier pledge of €2.4 billion.