[1945]

It's likely not out of the goodness of their heart but rather coal's terrible performance. There is a bankruptcy filing every other week. This week alone the largest miner, Peabody, filed for bankruptcy.

[Skinney]

It's because the parlament told them to. Divesting in coal is a political move stemming from environmental concerns. At least officially, I think some parties supported the move because Norway doesn't export that much coal, and this could potentially increase gass and oil revenue.

[ZeroGravitas]

The European oil/gas companies all support a carbon tax for the same reason. Coal is such an appallingly bad fuel that a carbon tax would kill it (even faster) and gas would replace it in large part.

[peteretep]

Wouldn't that information already be priced in to the market?

[1945]

Absolutely, but it by no means marks the bottom. Have a look at the last 5 years of KOL (ETF because I can't recall the coal futures symbol).