Tokio Marine 1st Japan insurer to divest from coal mine development

Economy

Tokio Marine Holdings Inc. said Thursday it will halt in principle underwriting new insurance policies and extending fresh loans for coal mine development projects from October, becoming the first Japanese nonlife insurer to do so. The move will target fuel coal that is mainly used for electricity generation, and not raw coal used to produce iron and steel, therefore only affecting coal-fired power plants. In Japan, there are already nonlife insurers that have stopped underwriting insurance policies for new coal-fired power plants, but Tokio Marine is the first to take another step forward and...

Kyodo News

Kyodo News