The Oil and Gas Policy Tracker

A tool to detect greenwashing practices in the finance sector Reclaim Finance and more than 15 NGOs launch the “Oil and Gas Policy Tracker” (OGPT). The tool is the first of its kind: it assesses in great detail the oil and gas exclusion policies (or lack thereof) of the 150 biggest financial institutions worldwide. The …

Finance sector has moral imperative to exclude Russian fossil fuel firms

In solidarity with Ukraine, a coalition of NGOs and groups around the world have sent a letter calling on financial institutions most exposed to Russian oil, gas, and coal to cease all ties with these companies, and to stop propping up Putin’s illegal war on Ukraine.  Over 75 organisations, including Reclaim Finance, BankTrack, Stand.earth, Greenpeace, …

AIG’s climate commitments are a major step forward for US insurance industry’s exit from fossil fuels

Insurance giant rules out support for new coal, tar sands, and Arctic energy exploration projects and commits to Net Zero emissions by 2050 for underwriting and investments WASHINGTON, D.C. – American International Group Inc. (NYSE: AIG) today announced major new company-wide climate commitments, including commitments to no longer provide underwriting and investments in the construction …

Major insurers invest billions in oil and gas companies with activities in North Sea

Since 2019, 15 of the world’s biggest insurers’ invested over 7.9 billion USD in oil and gas companies which have current and/or planned operations in the North Sea, finds research conducted by Profundo and published by The Ferret. Despite removing coverage and raising premiums for communities on the frontlines of the climate crisis, insurers continue …

2021 Scorecard on Insurance, Fossil Fuels & Climate Change

Insuring Our Future: The 2021 Scorecard on Insurance, Fossil Fuels and Climate Change, focuses on 30 of the world’s top insurers. It is published by 26 organizations from 14 countries and will be launched today at the COP26 UN Climate Summit in Glasgow. Insure Our Future’s fifth annual report on the insurance industry’s response to …

Insurers’ support for oil and gas undermines climate targets

Coal industry nearly uninsurable as U.S. & Bermuda companies provide last lifeline  The global insurance industry is undermining efforts to meet climate targets by continuing to support new oil and gas production, the Insure Our Future campaign reveals today in its fifth annual scorecard on insurers’ climate policies. Only three insurers, France’s AXA, Italy’s Generali, …

Climate campaigners call on insurers not to underwrite Gasunie’s proposed Brunsbüttel LNG terminal

Today, members of the Insure Our Future network and other social movements sent an open letter to insurers of energy network operator Gasunie, the company planning to build a liquified natural gas (LNG) terminal in Brunsbüttel, Northern Germany.  The letter was sent to Munich Re, AXA, HDI / Talanx, Zurich Insurance Group, AIG Europe, SCOR, …

Open letter calls on insurers to cut ties with Trans Mountain, as key pipeline insurance policy expires

Fifteen insurers have ruled out Trans Mountain – coalition pledges to continue pressuring the remaining companies Today, Indigenous, environmental, and climate groups sent an open letter to twenty insurance companies that have failed to rule out insuring the Trans Mountain pipeline network, following the August 31 expiration date of one of Trans Mountain’s key insurance …

Climate campaigners protest AIG, Lloyd’s of London and Tokio Marine as coal insurers of last resort

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 …

2020 Scorecard on Insurance, Fossil Fuels and Climate Change

The 2020 Scorecard finds that Insurers’ continued retreat from coal is making it harder and more expensive to secure insurance for coal projects. Although momentum is growing, it falls short of what is needed to drive action to meet international climate targets. Major companies in the U.S., the Lloyd’s market and East Asia are still …

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