KBC no longer applies its strict policy for coal-related activities solely to its SRI funds. From now on, a similar policy will also apply to conventional funds.
In practice, all coal mining companies have been excluded from all investment funds since the start of this year. Utilities companies using coal-fired electricity generation to produce 25% of their turnover and capacity are now excluded, as well.
The only exception is coal used for steel production as there is no efficient alternative.
Scientific research shows that human activity has a significant impact on global warming. Given this knowledge, climate scientists argue that more measures need to be taken to limit warming.
Carbon is released when fossil fuels are burned. With such emissions being detrimental to the climate, reducing them is high on the global agenda.
Society is also setting ever higher standards for sustainability and social responsibility and, therefore, we regularly adjust our sustainability-related objectives and policies.
Back in May 2020, we tightened our energy policy for funding and insuring coal-related activities and companies, as well as for our SRI funds. Now we're going a step further.
Last year, KBC also signed the ‘Collective Commitment to Climate Action’, which is part of the United Nations Environmental Program Finance Initiative (UNEP FI).
By entering this commitment, KBC supports the greening of the economy together with its customers.
If you're a sustainable investor, you get to see at first hand when KBC tightens its sustainability policy.
If you're interested in finding out more about our sustainable offering, be sure to check out our website.