Coal resurgence hurts company reputation among investors

Rating bureaus such as Sustainalytics and MSCI report that big investors are still guided by ESG scores, boding poorly for big companies restarting coal-fired power plants and factory boilers.

Photo: Ina Fassbender/Reuters/Ritzau Scanpix/REUTERS / X00970

Large European investors will not simply shelve environmental and climate aspirations simply because Russia has reduced natural gas flows supplying the continent. Thus, companies restarting coal boilers to generate power or make products can expect to be met with some aversion among investors, Reuters reports.

Such companies include big players like chemical group Lanxess, utilities Enel and RWE, copper supplier Aurubis, and nations including Germany and Italy. Such entities are now again considering coal usage, thereby earning black marks among credit rating bureaus such as MSCI and Sustainalytics, according to the news agency.

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