Jul 19, 2019

Coal bankruptcies are piling up

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Energy transition prompts more insurers to back away from coal

Cooling towers of a coal-fired power plant. Photo: Federico Gambarini/picture alliance via Getty Images

Earlier this month, Chubb became the first U.S. insurance company to limit coal-related underwriting and investing, expanding a global trend that has seen 15 companies — underwriting a total of $313 million in premiums — announce new policy restrictions.

Why it matters: The proliferation of coal-exclusion policies at globally significant financial institutions — 113, according to the the Institute for Energy Economics and Financial Analysis — is leading large, diversified mining and utility companies to reduce their exposure to coal, and in some cases to exit the coal industry altogether, to avoid losing access to finance.

Go deeperArrowJul 19, 2019

Despite decline in new coal plants, emissions targets still at risk

A coal-fired power plant in Salaya, India. Photo: Sam Panthaky/AFP/Getty Images

If most of the world's proposed new coal facilities are ultimately built, their output would far exceed the level required to limit global warming to 1.5 degrees Celsius.

Driving the news: A Global Energy Monitor report found that 538 GW of coal plants are still under consideration around the world. This represents a 62% reduction in proposed coal plants over the past 3 years — from a proposed 1,427 GW in 2015 — but still amounts to much more than the global carbon budget can absorb.

Go deeperArrowAug 16, 2019

JCPenney stock sinks under $1 after debt restructuring reports

Data: Investing.com; Chart: Axios Visuals

Shares of embattled retailer JCPenney fell 17% on Friday after a Reuters report that the company had hired advisers to help restructure its debt in the latest effort to stave off bankruptcy. 

Background: The stock fell 18 cents to close at 90 cents a share. It has traded near $1 since 2018.

Go deeperArrowJul 22, 2019