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World / Europe

Return of coal a threat to European companies' ESG ratings

Published: 26 Jul 2022 - 10:13 am | Last Updated: 26 Jul 2022 - 10:33 am
An aerial view shows coal at a dry bulk terminal of German Rheinberg-Orsoy harbor along Europe’s most important shipping way Rhine in Rheinberg near Duisburg, Germany, April 6, 2022. Picture taken with a drone. REUTERS/Stephane Nitschke

An aerial view shows coal at a dry bulk terminal of German Rheinberg-Orsoy harbor along Europe’s most important shipping way Rhine in Rheinberg near Duisburg, Germany, April 6, 2022. Picture taken with a drone. REUTERS/Stephane Nitschke

Reuters

LONDON, FRANKFURT: European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them scrambling to impress investors still vocal on sustainability.

Reporting by Carolyn Cohn in London and Christoph Steitz in Frankfurt; Additional reporting by Ludwig Burger, Christoph Steitz and Patricia Weiss in Frankfurt, Michael Hogan in Hamburg and Marc Jones in London; Editing by Jan Harvey