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The following letter was submitted by five environmental NGOs to 50 financial institutions that are major shareholders of MS&AD Insurance Group Holdings. The full version including tables and appendices are available below. January 18, 2023 Dear Shareholders of MS&AD Insurance Group Holdings, A Request to Engage with MS&AD to Stop Underwriting Fossil Fuel Projects Japan …
17 January 2023 – The Net-Zero Insurance Alliance (NZIA) Target-Setting Protocol, launched today at the World Economic Forum, lacks ambition and opens the door to corporate greenwashing according to the Insure Our Future campaign. The protocol is supposed to set targets for the underwriting portfolios of the 29 insurance and reinsurance NZIA members to align …
Leaders of some of the world’s biggest insurance companies including Lloyd’s of London, AIG, Swiss Re and Allianz, will find out if they have been naughty or nice when they receive a specially selected Christmas gift from the climate action group, Mothers Rise Up, today. The CEO’s of six insurance companies – Lloyd’s of London …
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 …
Korean Reinsurance begins its move away from coal but too slowly, according to civil society December 6, 2022 – Asia’s second-largest reinsurance company, Korean Re, will no longer be providing reinsurance for new coal mining or power plant construction from next month. Reinsurance functions as insurance for insurance companies. If reinsurers restrict insurance coverage of …
Arch Capital Group Ltd and AEGIS London join the 19 (re)insurance companies ruling out the controversial East Africa Crude Oil Pipeline (EACOP) project. Arch Capital Group Ltd responded to ongoing pressure on their insurance business by ruling out insurance for the East Africa Crude Oil Pipeline (EACOP). A statement issued by the company follows sustained …
In making Scope 3 emissions reporting optional, the PCAF-NZIA protocol violates Race to Zero and UNHLEG recommendations London – Today the Platform for Carbon Accounting Financials (PCAF) and the Net-Zero Insurance Alliance (NZIA) published their long-awaited Greenhouse Gas Accounting and Reporting Standard for the insurance industry. Under the minimum criteria of the UN Race to …
An industry willing to sacrifice a livable planet • 96% of upstream oil and gas companies are still expanding their operations. • GOGEL is the first tool that makes it possible to systematically assess whether companies are in line with the IEA’s Net Zero Emissions scenario. • LNG terminals under development would more than double …
As decision-makers converge in Egypt for the annual climate talks at COP, major new reports warn that we’re at risk of triggering irreversible tipping points in our Earth’s system without rapid and concerted action right now. This year has been a litany of climate disasters ravaging communities, while oil and gas companies are reaping tens …
Monday 24 Oct 2022 – As the global reinsurance sector meets to discuss annual re/insurance contract renewals in Baden-Baden, the Insure Our Future campaign calls on the assembled reinsurers to stop fueling climate catastrophe by underwriting coal, oil and gas production and instead support a rapid transition to renewable energy. Munich Re reported that climate …
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 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 …
Laggards in U.S., Asia and Lloyd’s Market slow global progress Insurers’ continued retreat from coal is making it harder and more expensive to secure insurance for coal projects, the Insure Our Future campaign revealed in its fourth annual scorecard on insurers’ climate policies. Although momentum is growing, it falls short of what is needed to …
46% of reinsurance market and 37% of industry’s global assets covered by coal exit policies The number of insurers withdrawing cover for coal has more than doubled in 2019 as the industry’s retreat from the sector accelerates and spreads beyond Europe, the Insure Our Future campaign reveals today in its third annual scorecard on insurance, …
46% of reinsurance market and 37% of industry’s global assets covered by coal exit policies. The number of insurers withdrawing cover for coal has more than doubled in 2019 as the industry’s retreat from the sector accelerates and spreads beyond Europe, the Unfriend Coal campaign reveals today in its third annual scorecard on insurance, coal …
Insure Our Future campaigners made coal one of the dominant issues at the recent annual general meetings of insurance companies. Here is a brief summary of new policy announcements from the current AGM season: France AXA has committed to apply its 2017 divestment policy to all third-party assets managed by AXA IM by the end …
Fifteen NGOs supporting the Insure Our Future campaign warn insurance CEOs of increasing public pressure on companies that do not end their support for coal, extending scrutiny to Asian and North American companies. Dear Madam/Sir, Since 2017, the organizations engaged in the Insure Our Future campaign have called on the insurance industry to stop underwriting …
Organizations with 76 million members warn project would have disastrous impact on climate change 73 organizations, representing a combined membership of more than 76 million people, are sending an open letter to 30 global insurance companies today, calling on them to publicly rule out any insurance services for Adani Group’s Carmichael coal mine and associated …
Insurance companies are taking unprecedented action against the coal industry, ending insurance for coal companies, mines and power plants and excluding coal from $6 trillion of investments, reveals the Insure Our Future campaign’s second annual scorecard on the industry. Momentum is growing as four of the world’s biggest insurers have announced new restrictions on coal …
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