Insuring Disaster 2024

ShareAction Report: Insurance’s triple whammy threatens the survival of people and planet

London, 15 April 2024 – A major investigation into the world’s 65 largest insurance companies from the responsible investment charity ShareAction, released today, shows that both people and planet face the triple whammy from insurance companies underwriting and investing in projects that are increasing global warming, damaging the natural environment and failing to protect human …

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New Finance Watch report clarifies ingredients for impactful transition plans for insurers

Brussels, 12 April 2024 – A new report from Finance Watch outlines the steps that must be taken to ensure effective implementation of mandatory transition plans for insurance companies as tools to support transition and manage the related risks. It outlines the urgent need for supervised “prudential” transition plans, pointing to the financial instability that …

Insurance companies can’t hide anymore: communities from across the globe demand action

The Insure Our Future network and communities from across the world are coming together for the first ever Global Week of Action to spotlight and target the insurance industry for their role in the climate crisis and demand action. Groups in over 27 countries across 5 continents are holding a week’s worth of demonstrations, marches, …

Insurers withdraw cover for climate risks while backing increased fossil fuel production, industry must act to support 1.5°C climate target after 50 years of failure

Global, 9 November 2023 – Fifty years after the insurance industry first warned about the impact of climate change it is continuing to fuel the climate emergency, the Insure Our Future campaign warns today in its seventh annual scorecard on insurers’ climate policies. The growing frequency and severity of floods, hurricanes, wildfires, droughts and other …

50 Years of Climate Failure: 2023 Scorecard on Insurance, Fossil Fuels and the Climate Emergency

Fifty years after the industry first warned about the growing risks of climate change it continues to provide insurance that allows new fossil fuel projects to go ahead. Insurers are abandoning customers affected by climate risks, yet most continue to fuel the climate emergency by providing cover for increased oil and gas production. Download the …

nyiragongo volcano, nord Kivu, DRC

New Report from Greenpeace: Congo oil fields are quickly becoming uninsurable

Kinshasa, 8 September 2023 – Any company granted exploration and exploitation rights in the Democratic Republic of Congo (DRC) oil auction could find itself without financial protection, according to a report published today by Greenpeace Africa, Insure our Future, Reclaim Finance and Urgewald. If leading insurance and reinsurance companies follow their commitments and their general …

Gas storage sphere tank in petrochemical industry zone with oil and gas

AXA, the 10th insurer to (almost) stop covering new gas fields

Paris, 28 July 2023 via Reclaim Finance – French insurer AXA has announced it will no longer cover new gas fields, becoming the 10th insurer to make such a commitment (1). But AXA has not gone as far as some of its peers, allowing exceptions for companies it considers to be “in transition”. Reclaim Finance …

A hurricane due to climate change

In response to climate deniers, insurers must step up climate action

Written in collaboration with Reclaim Finance. Numerous insurers have quit the Net Zero Insurance Alliance (NZIA) under pressure from climate denying politicians and officials in the United States. The insurance industry has for decades been aware of the causes and serious consequences of climate change and its business model is being shaken by repeated multi-billion …

Oil and gas platform in Norway

Insurance giants complicit in Norway’s oil and gas expansion

Oslo, 24 May 2023 – A new report from Greenpeace Nordic reveals for the first time the extent that insurance companies are prioritising dirty profits over the future of the planet by facilitating new oil and gas projects in defiance of the Paris Agreement targets and their own greenwashing rhetoric. The report, Ensuring Disaster, was …

AXA AGM: A missed opportunity for climate justice

Paris, 27 April 2023 – At its annual general meeting (AGM), AXA missed the opportunity to regain its climate leadership. Despite a call from a representative from an impacted community to warn of the impacts of oil and gas projects in Texas, the group reiterated its support for new gas projects in the name of …

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