Unprecedented insurance action puts coal under pressure
Insurers are coming under growing political, regulatory and public pressure to support a rapid worldwide phase-out of coal.
In the last year, insurance companies have taken unprecedented action against the coal industry, ending insurance for coal companies, mines and power plants and excluding coal from more than $6 trillion of investments, reveals the Unfriend Coal campaign’s second annual scorecard on the industry. But the report also reveals that insurers in the United States, Japan and Australia are still supporting an industry that is fueling dangerous climate change.
Insuring Coal No More analyzes the evolving role of the global insurance industry in the coal sector and the transition to a low-carbon economy. It focuses on 24 major insurers, assessing and scoring their policies on coal insurance and divestment, and other aspects of climate leadership. The report highlights progress and gaps, calls out leaders and laggards, and identifies challenges and opportunities for the year ahead.