Bank of England to Stop Accepting Bonds Linked to Coal for Key Loans The Bank of England has announced it will no longer accept bonds linked to thermal coal for key loans, marking a significant shift in the global fight against fossil fuels.
Climate activists have long targeted this industry, and now, a major financial institution is taking concrete steps to disentangle itself from its toxic investments.
Thermal coal's value is dwindling as the world transitions towards cleaner energy sources. The Bank of England's new policy recognizes that bonds linked to this polluting industry are too risky for its balance sheet.