Big coal escapes BlackRock’s new climate plan

BlackRock will cut exposure to thermal coal as the world’s largest asset manager moves to address climate change, but that doesn’t mean it’s selling out of the biggest producers -- including top shipper Glencore.

Producers of the dirtiest fuel are coming under increasing pressure from money managers to either abandon the business or show plans for an eventual exit. What investors don’t agree on, is how to measure progress and whether companies are complying.