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Today, SCOR, the 4th biggest reinsurer in the world, held its Annual General Meeting (AGM) where its CEO Laurent Rousseau took the opportunity to announce SCOR’s first underwriting exclusions on oil. While committing to no longer underwrite new oil projects is a good first step, these restrictions fail to cover gas and are thus inconsistent …
Originally published in Environmental-Finance on May 17, 2022. Laurent Rousseau, who was appointed Chief Executive Officer of SCOR almost a year ago, will meet his shareholders for the first time on 18 May. At a time when many insurers, as society’s risk managers, are not fulfilling their responsibility to actively support global action to avoid …
The Gwich’in Steering Committee (GSC) released an update to its scorecard that tracks global insurance companies’ policy on fossil fuel development in the Coastal Plain of the Arctic National Wildlife Refuge. Since the initial release of the scorecard in August 2021, six additional “gold medal” companies have been added for a total of 12 international insurers with …
As major insurers say no to providing coverage for the highly controversial East African Oil Pipeline (EACOP), the pressure is mounting on Munich Re, Lloyd’s of London and others that have yet to comment on their potential involvement. French multinational (re)insurance company SCOR is the latest global insurer to commit not to provide coverage for …
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 …
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, …
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 …
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, …
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, …
The Insure Our Future network cautiously welcomes the UNEP Net Zero Insurance Alliance’s (NZIA’s) ‘Statement of commitment by signatory companies’, but calls on the NZIA founding members – AXA (NZIA Chair), Allianz, Aviva, Generali, Munich Re, SCOR, Swiss Re and Zurich Insurance Group – to demonstrate this commitment by immediately excluding new oil and gas …
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