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2023 was the hottest year on record, as well as the year in which we saw insurance companies abandon their customers most affected by climate risks. Climate change, mainly caused by the burning of fossil fuels (coal, oil and gas), is accompanied by ever more intense and frequent climatic disasters: forest fires, floods, drought, hurricanes, …

London, 15 April 2024 – A major investigation into the world’s 65 largest insurance companies from the responsible investment charity ShareAction, released 11 April 2024, shows that both people and planet face the triple whammy from insurance companies underwriting and investing in projects that are increasing global warming, damaging the natural environment and failing to …

Brussels, 12 April 2024 – A new report from Finance Watch outlines the steps that must be taken to ensure effective implementation of mandatory transition plans for insurance companies as tools to support transition and manage the related risks. It outlines the urgent need for supervised “prudential” transition plans, pointing to the financial instability that …

Today, as the insurance industry convenes for the first Global Sustainable Insurance Summit in Los Angeles, the 32 campaign groups of the Insure Our Future network have sent a letter to the world’s leading fossil fuel insurers, detailing how they can accelerate the transition to a clean and just energy economy. Demands in the letter …

Zurich, 8 April 2024 – In a Bloomberg story today, the Zurich Insurance Group today announced major new fossil fuel restrictions, excluding the underwriting of new oil and gas extraction and metallurgical coal projects. The Insure Our Future campaign and its Swiss member Campax welcomed the news and called on AIG, Tokio Marine and the big Lloyd’s …

Tokio Marine, Japan’s biggest property and casualty insurer and the 15th largest fossil fuel underwriter in the world, announced on 13th March that its largest subsidiary, Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF), is strengthening its engagement policy with 60 companies in high Greenhouse Gas (GHG) intensive sectors, and commits to stop insuring, …

This week has been an incredible global week of action for the Insure Our Future campaign, with thousands of people taking part in over 100 actions across 31 countries in 5 continents, including over 100,000 people taking action online. In-person actions include protests in Japan, South Korea, Nigeria, Uganda, Indonesia, UK, USA, Philippines, Pakistan, Tanzania, …

London, 4 March 2024 – (guest content published by Extinction Rebellion) Major insurer Probitas1492 have today (Monday) confirmed that they will never insure two major ‘carbon bomb’ projects – the East African Crude Oil Pipeline and the proposed West Cumbria coal mine – after a week of peaceful protest from Extinction Rebellion (XR) and members …

Statement by Peter Bosshard at the Global Week of Action, Zurich, February 28, 2024 The fossil fuel industry is destroying our planet. After us the deluge, is their motto! The expansion of fossil fuel extraction would not be possible without insurance. And whenever we find information about who is insuring coal and oil projects, Zurich is …

In the last week of February, people in over 30 countries across the world organized demonstrations, marches, and community events at some of the largest global insurance companies – including AIG, Tokio Marine, Zurich, Chubb, Lloyd’s of London, Travelers, Sompo, and The Hartford. These events brought a clear message: Insure our future, not fossil fuels. …

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 …

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, …

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 …

With the publication of the new Generali Group Strategy on Climate Change, Assicurazioni Generali finally acknowledges the requests of ReCommon and Greenpeace Italy, adopting a decarbonisation plan. It was more than 3 years ago that the two associations started to push Generali to stop its financial support of coal. The most relevant element of the …

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 …

A few weeks before Generali’s shareholder meeting, scheduled for April 29, Re:Common and Greenpeace Italia release an Italian publication and English brief which shows that Generali is one of the key players in supporting the European coal sector, particularly in countries that still strongly depend on the most polluting of fossil fuels: Poland, the Czech …

Urgewald released a report highlighting the European insurance industry’s role in supporting gas infrastructure. The paper, released as part of the Insure Our Future campaign, names Allianz, Talanx, AXA, Generali and Munich Re as key insurers to big fossil gas projects in recent years, such as the Świnoujście, Zeebrugge and Dunkirk liquefied natural gas (LNG) …

December 12, 2020 – On the fifth anniversary of the Paris Agreement, Thomas Buberl, the CEO of the AXA Group, proposed the creation of a Net-Zero Underwriting Alliance (NZUA). The Insure Our Future campaign welcomed the proposal as a sign that insurers are increasingly accepting responsibility for the emissions of the projects they are underwriting. …

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 …