February 21, 2018 / 6:05 PM / 7 months ago

Italy's Generali to sell coal investments in new climate change strategy

MILAN, Feb 21 (Reuters) - Italy’s biggest insurer Assicurazioni Generali said on Wednesday it would increase its investments in the green economy and divest 2 billion euros ($2.5 billion) from coal-related activities.

Generali said in a statement that, as part of its climate change strategy, its investments in “green” sectors would be raised by 3.5 billion euros by 2020.

It said it would sell equity investments in coal-related activities and gradually eliminate bond investments by bringing them to maturity or considering the possibility of divesting them before maturity. ($1 = 0.8118 euros) (Reporting by Stephen Jewkes; editing by Francesca Landini)

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