Following the publication by Total of a tender for insurance / reinsurance brokerage services for the East African Crude Oil Pipeline (EACOP), an international coalition of organisations is calling upon leading re/insurance brokers to reject the tender and not to support the project due to its anticipated climate, nature and human impacts. EACOP threatens the […]
In November 2020, Samsung Fire & Marine became the first major Asian insurance company to publicly announce an end to insuring new coal-fired power plants. However, recent coal insurance data from Korea Electric Power Corporation’s (KEPCO’s) subsidiaries indicates Samsung F&M remains the biggest coal insurer questioning the validity and effectiveness of its coal policy. 2020 […]
In his closing speech at the Insurance Development Forum Summit, Antonio Guterres, Secretary General of the United Nations, called for the phase out of fossil fuel insurance. Peter Bosshard, Global Coordinator of the Insure Our Future network, said, “The call to action from the UN Secretary General and the recent 1.5C report by the International Energy […]
For a new coal plant or oil pipeline to happen, fossil fuel developers need to be matched with insurers who can provide the coverage needed to build and operate these projects — that’s where insurance brokers like Marsh come in. Brokers play a critical (if often neglected) role in making coal, oil, and gas projects […]
Lloyd’s syndicate member Argo joins more than 10 other insurers that will not insure Trans Mountain, citing no “risk appetite” for tar sands pipelines. Trans Mountain insurer and Lloyd’s of London syndicate Argo Group has pledged to cut ties with the existing Trans Mountain tar sands pipeline when its current insurance policy expires on August […]
Today, climate campaigners from across the world call on insurance giants AIG, Lloyd’s of London and Tokio Marine to immediately stop insuring and investing in coal. The Insure Our Future network placed a full-page ad in the Financial Times calling out the insurance laggards as climate groups in Japan, South Korea, United States and the […]
Dear EU Commission, With regard to the ongoing review of the prudential regulation of the insurance sector. Insure Our Future is an international network of NGOs, which – for the past 5 years – are working to persuade the (re)insurance sector to act responsibly with regard to their climate impact. The insurance sector is caught […]
70 groups delivered a letter today calling on Chubb CEO Evan Greenberg to strengthen Chubb’s weak coal policy and stop insuring new oil and gas. Citizens’ groups wearing Evan Greenberg masks delivered the letter to Chubb headquarters in New York, Zurich, and San Francisco in advance of Chubb’s May 20th shareholder meeting. Chubb was an […]
Friday, May 21 – Following the update to VIG’s climate policy this week, climate campaigners denounce the insurer’s continued lack of clarity on the application of its coal policy and its silence on oil and gas. This morning at 9:00am CET, Campaigners from #aufstehn held a protest at VIG’s Annual General Meeting with a banner […]
By Peter Bosshard, Global Coordinator of Insure Our Future In a welcome reversal of long-held positions, the International Energy Agency (IEA) concluded that “there is no need for investment in new fossil fuel supply” in a Net-Zero pathway to 2050. This conclusion confirms that governments, investors, banks and insurance companies no longer have any justification […]
By continuing to do coal business on the side and insuring new oil and gas projects, German insurers are putting their climate credibility at risk, warn Peter Bosshard and Regine Richter in Environmental Finance. Last year saw more hurricanes than ever before, unprecedented wildfires from Australia and California to Siberia, and flood disasters from China […]
Insurance companies Allianz, Generali, and Vienna Insurance Group (VIG) continue to insure Czech coal companies despite pledged coal policies. Report by researchers from Re-Set, a Czech civil society organisation, finds that the insurers are underwriting climate-wrecking coal power plants and derailing decarbonisation both in Czech republic and the EU as a whole. The report, Betting […]
22 NGOs, as part of the Insure Our Future network, sent the following letter to insurance and reinsurance company CEOs on April 15: DearMadam/Sir, The climate crisis is escalating. In 2020 the planet experienced the warmest year on record (tied with 2016) as well as a record-breaking Atlantic hurricane season, a record number of climate […]
Confronted with the heat of targeted advocacy by climate justice campaigners as well as Indigenous Peoples’ rights movements, Tokio Marine Kiln (TMK, identified with Lloyd’s Syndicates 510, 557 and 1880) has publicly committed to not participate in ‘any future underwriting’ of Adani’s controversial Carmichael coal mine in Australia. Earlier this month, when Lloyd’s syndicate MS […]
The Insure our Future network increases pressure on Lloyd’s with the launch of a website calling on the insurer to strengthen its ESG policy and stop insuring coal and new oil and gas projects that exacerbate climate change. Lloydsinsureourfuture.com provides a gateway to action for the growing global network of organisations and individuals, including Lloyd’s […]
On April 7, campaign organisation Campax denounces the climate policy of Zurich Insurance with a 10×13 meter banner hung outside the insurance giant’s headquarters that reads “Zurich stop insuring oil and gas projects” just hours before its annual general meeting. The climate activists are demanding Zurich’s withdrawal from the oil and gas business. Zurich Group […]
A few weeks before Generali’s shareholder meeting, scheduled for April 29, Re:Common and Greenpeace Italia release an Italian publication and English brief which shows that Generali is one of the key players in supporting the European coal sector, particularly in countries that still strongly depend on the most polluting of fossil fuels: Poland, the Czech […]
The week of March 22nd, climate justice and community rights advocates kick-started the launch of a global campaign demanding Tokio Marine stop insuring coal, oil and gas projects. Energised actions took place outside company offices in Tokyo, Seoul, Jakarta, Delhi, Melbourne, Sydney and New York, in which groups gathered to put the global insurance company […]
Written by Kuba Gogolewski, Senior Finance Campaigner, Fundacja „Rozwój TAK - Odkrywki NIE” PZU, the biggest financial group in Central and Eastern Europe with presence in Poland, Ukraine, and the Baltic states, released a weak new strategy for 2021 to 2024. With consolidated assets of close to 85 billion euros at the end of 2020, […]
As the Olympics Torch Relay kicks off in Japan, actions in Tokyo, Seoul, Delhi, Jakarta, New York, San Francisco, Sydney and Melbourne demand Tokio Marine take climate action Read Investor Brief Starting March 25, actions around the world mark the global launch of a campaign calling on insurance giant Tokio Marine to stop underwriting and […]