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AIA sells almost US$10 billion of coal-related investments as companies rush to sever ties with the fuel in their bid to go green




AIA Group has sold almost US$10 billion of investments in coal mining and coal-fired power businesses as pressure grows on financial firms to cut ties with the sector.The insurer completed the entire sale of directly-managed equity and fixed income portfolios in October, seven years ahead of its original target, according to a statement. It said it won’t make new investments in businesses directly involved in coal mining or generating electricity from coal.“The area that we can make the biggest…



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