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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

Bank of England to stop accepting bonds linked to coal for key loans

Bank of England Coal Bonds
A stacker-reclaimer at the Newcastle Coal Terminal in Newcastle, Australia
The Bank of England’s move suggests bonds linked to thermal coal are now too risky to sit on its balance sheet. Photograph: Bloomberg/Getty Images

Climate campaigners have declared a victory after the Bank of England said it would no longer accept bonds linked to one of the most polluting industries on the planet for key loan arrangements.

The ban, which comes into force in October, marks a fresh crackdown on thermal coal, which is burned in power plants to create electricity, and has long been a target of green policy activists.

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