Deutsche Bank has become the latest big-name organisation to pull back from the coal industry, following Bank of America and JP Morgan. Recently, six senior members of Deutsche Bank’s staff, responsible for coal deals, moved to New York firm Jefferies. The move is part of a broader shift in corporate strategy away from coal. It's another blow for the beleaguered coal industry, as investment from banks has slipped from $1.6bn in 2011 to $820m in 2015.
Deutsche Bank has become the latest big-name organisation to pull back from the coal industry, following Bank of America and JP Morgan. Recently, six senior members of Deutsche Bank’s staff, responsible for coal deals, moved to New York firm Jefferies. The German company has no plans to replace them. It's another blow for the beleaguered coal industry, as investment from banks has slipped from $1.6bn in 2011 to $820m in 2015.