Vienna Insurance Group strengthens coal policy but does not clarify key details and fails to act on oil and gas

Following the update to Vienna Insurance Group’s (VIG) climate policy this week, climate campaigners denounce the insurer’s continued lack of clarity on the application of its coal policy and its silence on oil and gas. This morning at 9:00am CET, Campaigners from #aufstehn held a protest at VIG’s Annual General Meeting with a banner outside …

Allianz, Generali and VIG prop up Czech coal companies, report finds

Insurance companies Allianz, Generali, and Vienna Insurance Group (VIG) continue to insure Czech coal companies despite pledged coal policies. Report by researchers from Re-Set, a Czech civil society organisation, finds that the insurers are underwriting climate-wrecking coal power plants and derailing decarbonisation both in Czech republic and the EU as a whole. The report, Betting …

VIG strengthens coal policy, but still falls short of Paris climate targets

Insure Our Future today welcomed Austrian insurer VIG’s announcement of a strengthened coal policy, but warned that it does not meet the need for a rapid phase-out of coal to meet Paris climate targets. The insurer commits to making no new investments in companies which derive more than 30% of sales from coal mining, among other criteria, a significant improvement on its previous …

With VIG, the next coal insurance domino falls

Austria’s Vienna Insurance Group (VIG) is to stop insuring new coal plants and mines, becoming the eighth insurer to announce restrictions on its cover for coal. The new coal policy is available here. VIG also announced that it would cease investing in companies which derive 50% of revenues from thermal coal mining or thermal coal …

Insurers’ support for Polish coal poisons air at climate summit

Four companies back expansion plans as industry leaders end cover for new coal power Four European insurers are continuing to support plans to expand Poland’s coal industry, reveals research from the Insure Our Future campaign released today as the country prepares to host the UN Climate Summit next month. Germany’s Talanx, Austrian insurers Vienna Insurance …

Generali and Vienna Insurance Group found insuring new lignite plant in Czechia

Generali and Vienna Insurance Group (VIG) have signed a 365,000 euro contract to insure a recently finished 660MW coal power plant in the Czech Republic, undermining international action to tackle climate change and clean up Europe’s air, the Insure Our Future campaign revealed today. Coal is the biggest single source of CO2 emissions. No new …

Austrian insurance companies undermine European coal exit

Poland is the country most dependent in the European Union on dirty and polluting coal, and is the only EU country that is still planning a massive expansion of its coal sector. If built, the pollution from these plants will lead to the premature death of thousands of people and make it impossible to reach …

Insure Our Future calls on insurers to refuse to tender for new Ledvice coal plant contract

NGOs supporting the Insure Our Future Campaign have called on insurers in a letter to take a stand against coal expansion and refuse to insure a new 660MW coal power plant in the Czech Republic. The Czech state-owned power utility was tendering the insurance contract for its Ledvice III lignite-fired power unit with a deadline …

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