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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 …
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, …
Since 2019, 15 of the world’s biggest insurers’ invested over 7.9 billion USD in oil and gas companies which have current and/or planned operations in the North Sea, finds research conducted by Profundo and published by The Ferret. Despite removing coverage and raising premiums for communities on the frontlines of the climate crisis, insurers continue …
Zurich’s new greenfield oil policy allows the insurer to continue business as usual on oil and gas expansion, and its Arctic and tar sands policy only excludes an estimated 10.4% of short term oil and gas expansion plans, finds Insure Our Future (1). Today, Zurich announced that it will no longer insure new greenfield oil …
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 …
On April 7, campaign organisation Campax denounces the climate policy of Zurich Insurance with a 10×13 meter banner hung outside the insurance giant’s headquarters that reads “Zurich stop insuring oil and gas projects” just hours before its annual general meeting. The climate activists are demanding Zurich’s withdrawal from the oil and gas business. Zurich Group …
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