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Global wind power capacity must grow eight- and solar capacity five-fold by 2030 so we can limit global warming to 1.5°C, the International Renewable Energy Agency has found. Scaling up the renewable energy sector is all the more urgent in order to replace Russian fossil fuels with wind and solar rather than new oil and …
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 …
Will major insurers rule out support for Ichthys LNG’s expansion? One month before COP27, Reclaim Finance calls on global insurers not to renew insurance coverage to Ichthys LNG, one of the most carbon-intensive liquefied natural gas (LNG) projects in Australia whose promoters TotalEnergies and Inpex (1) are currently planning its climate-wrecking expansion. Based on rare …
American International Group (AIG), Berkshire Hathaway, Travelers, and Chubb are among the ten insurers that collectively invested over $59.7 billion in fossil fuels in 2019, finds an analysis released today by Insure Our Future, Public Citizen, and Rainforest Action Network. The report analyses 2019 data released in April 2022 by the California Department of Insurance to …
Risk management is at the heart of insurers’ business. Yet we find that insurers are still not adequately considering – and are in fact actively compounding – the greatest risk humanity faces today: climate change and its irreversible consequences. This briefing compares insurers’ words with their actions. It shows that even members of voluntary initiatives, …
In March 2022, Mapfre, one of Europe’s largest insurers and the largest non-life insurer in Latin America, published its renewed environmental commitments during its Annual General Meeting. The International Institute for Law and Environment (IIDMA), which analysed in 2021 the Group’s activities as part of a broader study on the insurance sector’s relationship with climate change, has reviewed …
Insurance contracts obtained by the Insure Our Future campaign show how utilities are struggling to find companies to underwrite new coal power projects, reveals a report Exposed: The Coal Insurers of Last Resort. Details of which companies insure which projects are rarely disclosed, so the contracts for KEPCO, Korea’s national power utility, give a unique snapshot …
Feeding the fossil monster or clean energy? In this report by Insure Our Future member Re-set – a Czech organization that uses research, education and public engagement to support efforts for a more sustainable and just society – the policies of six major insurers in the Czech Republic [ČSOB pojišťovna, Generali Česká pojišťovna, Allianz, Kooperativa, …
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 …
Korean insurers have stopped providing coverage for the construction and operation of new coal-fired power plants finds new report A majority of financial institutions in South Korea failed to meet global standards of divestment from coal, Solutions for Our Climate said in its Wave of Coal Exit Pledges in 2021, Still Lacking Effective Policies issue …
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