Science is clear. It is imperative to phase out of the coal sector in order to keep the 1.5°C within reach and avoid a climate breakdown. Banks, insurers and investors are increasingly adopting decarbonization targets for the coal mining or power sector.
Yet, these targets are on their own insufficient to achieve 1.5°C-aligned decarbonization. Financial institutions must adopt robust coal sector policies that end all financial services to the expansion of the coal industry while supporting its phase-out.
The Coal Policy Tracker is designed to track the commitments taken by top financial institutions worldwide, highlight the good practices, and shed light on the existing loopholes to be avoided.