Environmental groups have been campaigning to encourage banks and other financial institutions to divest from fossil fuels for years, with efforts growing stronger since the Covid-19 pandemic and the global push to transition away from oil, gas, and coal to renewable alternatives. In June, the Bank of England quietly announced that it would no longer be accepting bonds associated with coal operations for key loan arrangements. The ban will be enforced from October. It is the latest move to encourage a shift away from thermal coal for electricity…
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