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Victory as Leading Global Insurers at Lloyd’s of London Rule Out Controversial East African Crude Oil Pipeline

London, 30 January 2024 – (via StopEACOP) In a significant win for the natural world and the global movement fighting fossil fuel pollution, leading (re)insurance companies SiriusPoint, Riverstone International, Enstar Group, and specialty insurers Blenheim and SA Meacock, have all officially ruled out involvement in the controversial East African Crude Oil Pipeline (EACOP) project. A …

A shot of natural gas storage tanks in sphere shape in Okayama, Japan

MS&AD Announce Significant Emission Reduction Target

Tokyo, 22 November 2023 – On November 21, MS&AD Insurance Group Holdings (hereafter MS&AD), one of Japan’s three major property and casualty insurers, announced a greenhouse gas (GHG) emission reduction target of 37%  for the underwriting and investment portfolio of its domestic clients by 2030, using 2019 as a baseline year* (PR in Japanese). This …

Campaigners call on the International Association of Insurance Supervisors to take action on climate

Activists gathered in front of the International Association of Insurance Supervisors (IAIS) annual conference venue in Tokyo, Japan, on the 9th of November, asking the global standard-setting body to take decisive measures and strengthen their efforts to prevent the worsening of the global climate crisis. 📣Outside the @IAISNews annual conference last week attended by over …

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 …

Oil refineries illuminated at night in Wakayama, Japan

Tokio Marine’s intermediate decarbonisation target lacks ambition and impact

Tokyo, 2 October 2023 – On September 29th, Tokio Marine, Japan’s biggest property and casualty insurer and the 7th* biggest globally, announced its “Interim Target for 2030 for the Transition to a Decarbonized Society“. It has set an engagement target within its domestic subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), to engage …

Cityscape Tokyo Japan

Three major Japanese non-life insurers left NZIA and failed to disclose the intermediate targets by deadline – NGOs urge insurers to set intermediate targets for emissions of their underwriting portfolio immediately

Tokyo, 2 August 2023, Joint Statement via Japan Center for a Sustainable Environment and Society (JACSES), Kiko Network, Friends of the Earth Japan, 350.org Japan, Mekong Watch and Insure Our Future – Three major Japanese non-life insurers (Tokio Marine Holdings, SOMPO Holdings and MS&AD Insurance Group Holdings), which left the UN-led Net-Zero Insurance Alliance (hereinafter …

Activists demand Tokio Marine rule out EACOP at annual shareholder meeting

On 26 June 2023, citizens and environmental NGOs gathered in front of the AGM venue of Tokio Marine Holdings; Japan’s biggest and one of the world’s top 10 oil and gas insurers.  #StopEACOP activists question Tokio Marine’s ethics  Risa Iizuka, a youth activist and Field Organizer at 350.org Japan, condemned the 1,400km-long  East African Crude …

Annual letter to the CEOs of 30 major fossil fuel insurers, 2023

Every year, the Insure Our Future network publishes an open letter to the CEOs of 30 major insurance companies whose fossil fuel policies are ranked annually by Insure Our Future, among which are: AIG, Allianz, AXA, Chubb, Generali, Liberty Mutual, Lloyd’s of London, Munich Re, SCOR, Sinosure, SOMPO, Tokio Marine and Zurich. The letter outlines …

2022 Scorecard on Insurance, Fossil Fuels, and the Climate Emergency

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 …

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