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 …

Insurance Industry Scorecard Update Reports 20 Global Insurers now Protect Land Sacred to Alaska Natives in the Arctic National Wildlife Refuge

FAIRBANKS, AK – An update to the Gwich’in Steering Committee (GSC) insurance industry scorecard released today reports 20 insurers now have a policy that protects Iizhik Gwats’an Gwandaii Goodlit (“The Sacred Place Where Life Begins”) from oil and gas development. The scorecard tracks global insurance companies’ policies on fossil fuel development in the coastal plain of the Arctic …

Insurers and Adani: The End of the Affair

Originally published in ESG Investor on February 9, 2023 Since activist short-seller Hindenburg Research accused the Adani Group of “pulling the largest con in corporate history” on 25 January, the value of the world’s biggest private developer of new coal has been in free fall. The exposure of Adani’s fraud sheds an embarrassing light on organisations – …

The Arctic Refuge Scorecard

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 …

The Oil and Gas Policy Tracker

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 …

2021 Scorecard on Insurance, Fossil Fuels & Climate Change

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 …

Insurers’ support for oil and gas undermines climate targets

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, …

Open letter calls on insurers to cut ties with Trans Mountain, as key pipeline insurance policy expires

Fifteen insurers have ruled out Trans Mountain – coalition pledges to continue pressuring the remaining companies Today, Indigenous, environmental, and climate groups sent an open letter to twenty insurance companies that have failed to rule out insuring the Trans Mountain pipeline network, following the August 31 expiration date of one of Trans Mountain’s key insurance …

2020 Scorecard on Insurance, Fossil Fuels and Climate Change

The 2020 Scorecard finds that Insurers’ continued retreat from coal is making it harder and more expensive to secure insurance for coal projects. Although momentum is growing, it falls short of what is needed to drive action to meet international climate targets. Major companies in the U.S., the Lloyd’s market and East Asia are still …

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