Subscribe to Insure Our Future Newsletter
Seoul, 21 September 2023 – In a collective effort to address the climate crisis, a group of 29 NGOs from across the world, including Solutions for Our Climate (SFOC) and Insure Our Future, has issued an open letter to the CEOs of Samsung Fire and Marine (Samsung FM) and Samsung Life Insurance demanding stronger climate …
Eight out of nine companies score “0” on oil and gas insurance and investment policies. Need to establish a policy on overall fossil fuels to manage climate change risk. Even as fossil fuels were (and still are) being identified for exacerbating climate change, it was found that Korean domestic property and casualty insurers have no …
Insure Our Future’s annual scorecard ranks the top 30 global fossil fuel insurers on the quality of their fossil fuel exclusion policies. This year Allianz, AXA and Axis Capital rank best for their coal exit policies, while Aviva, Hannover Re and Munich Re come out on top for their oil and gas exclusions. At the bottom of fossil fuel rankings are a group of insurers …
62% of reinsurers now have coal exit policies and 38% have oil and gas exclusions as shift away from fossil fuels accelerates Insurance company restrictions on oil and gas are finally starting to catch up with those on coal, according to new data from the Insure Our Future campaign. Ahead of COP27, the campaign coalition …
Samsung Fire & Marine Insurance and Hyundai Marine & Fire Insurance will not phase out existing underwriting of insurance for coal-powered projects, despite financial and climate concerns, according to their latest ESG reports. South Korea’s largest general insurers Samsung Fire & Marine Insurance (Samsung FMI) and Hyundai Marine & Fire Insurance (Hyundai MFI) announced it …
All of Samsung’s financial subsidiaries, including Samsung Fire & Marine, adopted one of the most concrete coal-exit policies in South Korea South Korea’s largest conglomerate Samsung will commit all of its financial subsidiaries to stop investing in coal companies, a new database of South Korean financial institutions’ climate policies revealed Thursday. As the country’s …
The world’s third-largest electronics giant claims to be an innovative technology leader but faces global scrutiny on Earth Day over its over-reliance on fossil fuels More than forty global environmental organisations sent a letter to the Samsung Group, urging the company to stop fuelling climate change and set more ambitious climate measures. The letter was delivered …
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 …
Korean insurers have stopped providing coverage for the construction and operation of new coal-fired power plants finds new report A majority of financial institutions in South Korea failed to meet global standards of divestment from coal, Solutions for Our Climate said in its Wave of Coal Exit Pledges in 2021, Still Lacking Effective Policies issue …
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 …
You have seen 10 of 18
Register below to receive the latest on climate change, fossil fuels and the insurance industry.
By submitting my information I agree to the Privacy Policy and Terms of Service. Any questions? [email protected]. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
You have now been signed up to our newsletter with the email address provided:
[email_address]
