M&G : British asset manager M&G plans to exit thermal coal by 2040

LONDON (Reuters) - British insurer and asset manager M&G plans to end investment in thermal coal in developed countries by 2030 and in emerging markets by 2040 as part of its target to reach net zero carbon emissions by 2050, it said on Tuesday.

M&G, which operates its own funds as well as managing funds for others, will be taking this approach to thermal coal in its internal portfolios over the coming year, it said in a statement.

(Reporting by Carolyn Cohn; Editing by David Goodman)