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 […]
Over 30 leading groups and individuals campaigning for action on climate change have written to insurance giant Lloyd’s of London demanding that it end support for the Bahamas Petroleum Company to conduct an offshore oil drilling scheme in the pristine waters of The Bahamas. The open letter, which was coordinated by global campaign group SumOfUs […]
The Insure Our Future network welcomes AIA’s divestment from coal, and calls on other Asian life insurers to follow AIA’s lead. In its new 2020 ESG report, AIA commits to do the following: AIA will divest and/or run off their entire directly managed equity and fixed income exposure to coal mining and coal-fired power businesses […]
Swiss Re, the world’s largest reinsurer, announced new climate targets, including plans for the reinsurer to completely phase-out thermal coal from its treaty business by 2030 (OECD) and 2040 (rest of the world). If implemented properly, this policy shift marks a breakthrough for the reinsurance industry. Lindsay Keenan, European Coordinator, Insure Our Future said: “We […]
MAPFRE commits to stop insuring new tar sands, Arctic drilling & coal infrastructure, but remains silent on insurance of other oil and gas expansion 12 March, 2021 – Today at its Annual General Meeting, MAPFRE, Spain’s largest non-life insurer and one of Europe’s biggest insurers, formally adopted new commitments to exclude tar sands and Arctic […]
Urgewald released a report highlighting the European insurance industry’s role in supporting gas infrastructure. The paper, released as part of the Insure Our Future campaign, names Allianz, Talanx, AXA, Generali and Munich Re as key insurers to big fossil gas projects in recent years, such as the Świnoujście, Zeebrugge and Dunkirk liquefied natural gas (LNG) […]
Major Lloyd’s of London insurance syndicate Brit has committed to never directly insure the Carmichael Coal Project and to not renew insurance involving any associated aspects of the project, most likely referring to the rail line. In an email to Insure Our Future, Brit stated: Brit does not, has never, and will not write any […]
Adani and its rail line contractors, BMD and Martinus, have failed to prepare for the wet season. Pictures have emerged of substantial flooding on a section of the under-construction rail line to service the proposed Adani Carmichael coal mine in Australia. Lawyers from Environmental Justice Australia (EJA), acting for Mackay Conservation Group (MCG), have written […]
The following commentary by Peter Bosshard first appeared in Environmental Finance. Climate campaigners have pushed insurance companies to exit the coal sector for many years. They have now received support from an unexpected source: financial analysts. “We think the insurance sector’s most important contribution to ESG is exiting coal underwriting”, a recent report issued by […]
By Peter Bosshard, coordinator of the Insure Our Future campaign On January 25, 2021, BBC Sport and the Sport Positive Summit named Tottenham Hotspur the Premier League’s greenest club. Congratulations! Can Spurs, which also just signed up to the UN Sports for Climate Action Framework, drop AIA and find a shirt sponsor which shares their […]
Update (22-01-2021): “Having previously said they had no record of insuring BPC’s ill-conceived offshore oil drilling project, Lloyd’s has now admitted they are providing insurance. We can understand why Lloyd’s would have been embarrassed to admit they’re insuring this project. New oil and gas projects are completely incompatible with limiting global warming to 1.5C. Lloyd’s […]
On December 17, Lloyd’s of London releases its Environmental, Social and Governance Report which, amongst other commitments, asks Lloyd’s managing agents to no longer provide new insurance cover for coal-fired power plants, thermal coal mines, oil sands and new arctic energy exploration. Insure Our Future welcomes this as a step in the right direction, but […]