July 9, 2020 / 8:39 AM / a month ago

Siemens Energy to set out plan to exit coal-generated electricity: CEO

FILE PHOTO: German engineering group Siemens CEO Joe Kaeser attends a news conference prior to the annual general meeting in Munich, Germany February 5, 2020. REUTERS/Andreas Gebert

BERLIN (Reuters) - Siemens (SIEGn.DE) Chief Executive said on Thursday he wanted the future managing board of Siemens Energy to quickly set out plans to exit coal-generated electricity

“The fight against climate change requires a decisive change in power generation, as it is responsible for about 40 percent of global energy-related CO2 emissions,” Joe Kaeser told an online general meeting on spinning out the power business.

“That is why I have asked the Managing Board of Siemens Energy AG to quickly present a stakeholder-friendly plan to phase out coal-based power generation.”

Reporting by Alexander Huebner; Writing by Caroline Copley; Editing by Riham Alkousaa

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