The following article is part one of a two-part series publishing in i3 that first appeared in the Global Listed Infrastructure Organization’s GLIO Journal. The full article with footnotes, graphics and references is available at: https://www.glio.org/

Thermal coal exclusions may allow investors to feel virtuous, but if applied uncompromisingly, they entail big risks; essential grid-network capital, reliability and customer affordability could be jeopardized, hampering long-term climate change efforts. A booster tonic of investor pressure and engagement is needed. This will foster and accelerate change and provide essential capital to spawn the next wave of low-to-no-carbon utility companies. If we are to hit global net-zero targets, investors should engage with companies large enough to make a difference; the electric and heating sector account for 45 percent of carbon emissions, for example. Holistic solutions are needed because t