According to The Financial Times, Nordea Asset Management is set to blacklist around 40 coal mining companies from its investment portfolio, as the company joins a growing trend of investors cutting their exposure to fossil fuel assets. Nordea is the largest Nordic fund manager with $228bn of assets, making it one of the largest firms to date to take steps to exclude carbon-intensive assets from its portfolio.

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Photo credit: Gillette coal mine, Wyoming, United States. / Greg Goebel.