Natixis has ended direct financing for all coal mines, coal plants, and coal infrastructure projects, and explicitly excludes facilitating coal asset sales.
To date, 43 banks and insurers have ended financing for new thermal coal mines and plants. Natixis has gone above and beyond, also ending financial support to new coal infrastructure projects, such as new coal export-import terminals, and to retrofits extending coal plants’ lifespans. Only 8 other financial institutions have taken these additional measures.
Another critical issue in the timely phase-out of coal power is the choice made by some companies to sell existing thermal coal plants rather than close them—only the closure of coal plants decreases the overall emissions caused by coal. This issue is particularly salient in Europe, where big European utility companies, including Engie, have sold several coal plants to the Czech power company EPH (Energetický a průmyslový holding, a.s.). Natixis explicitly excludes all financing for the acquisition of coal mines, coal plants, and coal related infrastructure.