Return of coal a threat to European companies' ESG ratings

Companies forced by cost pressures or national policy to use the fuel could make up ground by finding other ways to burnish their environmental credentials, or by focusing on the S and G in ESG, industry sources add.

It has however pointed out that if it prices itself out of the market, it could mean plant closures and job losses, potentially affecting the "social" aspect of its operations. A spokesperson for the group said RWE is still focused on expanding its use of renewable energies and hydrogen with a view to further accelerating a coal phase-out, a strategy to which its investors had given "broad approval"., also said their aim remains to decarbonise, despite the additional short-term complication of including coal in the energy mix.

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