Switzerland’s UBS says it no longer will finance new coal-fired plants

first_imgSwitzerland’s UBS says it no longer will finance new coal-fired plants FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):UBS Group AG said it will no longer provide project-level finance to new coal-fired power plants around the world, as it outlined tighter rules on funding such transactions.Switzerland-based UBS noted it will only finance existing coal-fired operators — defined as being more than 30% reliant on coal — that have a transition strategy that supports the Paris climate agreement, or transactions that are related to renewable energy.The bank also intends to source 100% of its electricity from renewable sources by 2020.UBS said its carbon-related assets amounted to $2.7 billion in 2018, down from $6.6 billion a year before. Climate-related sustainable investments totaled $87.5 billion, up from $74 billion in 2017.Additionally, UBS disclosed that its total sustainable investment assets and core sustainable investment assets stood at $1.11 trillion and $313 billion, as of Dec. 31, 2018, respectively, representing 35.8% and 10.1% of the banking group’s total invested assets.More ($): UBS further tightens rules on coal financinglast_img read more

Chelsea close in on deal for AFC Wimbledon ground

first_img Press Association The deal will raise funds for the League Two club’s proposed move to a new stadium at their original home of Merton. The Blues want to use the Cherry Red Records Stadium to host their youth and ladies’ matches. At a special general meeting on Monday night the Dons Trust, the largest shareholder of AFC Wimbledon, voted overwhelmingly in favour of selling the stadium lease. The next stage of the process will be for AFC Wimbledon PLC shareholders to pass a similar resolution in December, although that should be a formality as the Dons Trust controls over 90 per cent of the shares. Dons Trust chairman Matthew Breach told the Trust’s website: ” The successful vote on the stadium sale is an important milestone in helping to return AFC Wimbledon to its spiritual home in Merton. “On behalf of the Dons Trust board, I would like to thank our members for voting in such large numbers and for backing our proposals so unambiguously. “There is still a lot of work to do to deliver a new stadium but the outcome of the vote shows the overwhelming support among Trust members and the club’s fans for having AFC Wimbledon play where it belongs, back in Merton.” AFC Wimbledon bought the lease on the ground from non-league Kingstonian FC in 2003. The club, formed after the original Wimbledon relocated to Milton Keynes and became MK Dons, plan to build a new stadium where the old club used to play at Plough Lane. center_img Chelsea have moved a step closer to completing the purchase of AFC Wimbledon’s ground at Kingsmeadow.last_img read more