In June, the Bank of England quietly announced that it would no longer be accepting bonds associated with coal operations for key loan arrangements. It is the latest move to encourage a shift away from thermal coal for electricity production. The Bank of England said it would no longer be allowing commercial banks to use bonds linked to thermal coal as “collateral” when borrowing money from the financial institution. A wide range of financial institutions have already introduced certain restrictions on the thermal coal industry. The Bank of England’s policy is stricter than that of similar financial institutions, such as the European Central Bank.