AXA Investment Managers, a France-based investment service provider, has pledged to divest 165 million euros…as a result of its new coal policy. It announced that it won’t invest in companies that derive more than 50 per cent of their revenue from coal-related activities...The policy is AXA IM’s latest move towards responsible investment – it has already implemented policies of divestment from palm oil, controversial weapons, tobacco and soft commodities derivatives…“AXA IM has been committed to responsible investment for nearly 20 years. In taking the decision to divest from coal, we have put our clients’ long term needs and goals at the heart of our thinking …We believe that following COP21, the ratification of the Paris Agreement and growing momentum for fossil fuel divestment globally, now is the right time for AXA IM to make this move sending a strong message to the rest of our industry” (Matt Christensen, Global Head of Responsible Investment, AXA IM)…While there are widespread fears that investors who pull out of carbon-intensive industries prematurely could miss out on future returns, many academics and investment experts argue that delaying divestment could lead to large losses…