Tokio Marine’s strengthened climate policy does not go far enough

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, …

Thousands take part in powerful global week of action demanding Insurance industry take climate action

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, …

Insure Our Future XR London Action

Probitas pulls out of EACOP and West Cumbria coal mine

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 …

Zurich or Dubai?

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 …

Why people in nearly 30 countries are protesting at insurance companies

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. …

Global Week of Action calls on insurance companies to take urgent climate action

The insurance industry holds the key to a safer, prosperous future if they act now. Over 100 groups in over 27 countries across 5 continents are holding over 80 demonstrations, marches, direct actions and events this week with a clear message: Insure Our Future, not fossil fuels. The insurance industry is uniquely positioned to drive …

Insurance companies can’t hide anymore: communities from across the globe demand action

The Insure Our Future network and communities from across the world are coming together for the first ever Global Week of Action to spotlight and target the insurance industry for their role in the climate crisis and demand action. Groups in over 27 countries across 5 continents are holding a week’s worth of demonstrations, marches, …

Risk Exposure: The insurers secretly backing the methane gas boom in the U.S. Gulf South

Report with FOIA information reveals which insurers are part of the biggest fossil fuel buildout of this generation Houston, Texas –  At least 35 different insurance companies are responsible for underwriting liquified methane export terminal projects across the U.S Gulf South, according to a report released today by Rainforest Action Network and Public Citizen. The …

A shot of natural gas storage tanks in sphere shape in Okayama, Japan

REPORT: Risk Exposure: The insurers secretly backing the methane gas boom in the U.S. Gulf South

At least 35 different insurance companies are responsible for underwriting liquified methane export terminal projects across the U.S Gulf South, according to a report by Rainforest Action Network and Public Citizen. The analysis, based on documents obtained through open record requests, details the insurance coverage for existing and projected methane gas infrastructure that, if built, …

Oil Refinery Gas Chemical Equipment Prodiction import export Concept, Crude Oil Refinery Plant Steel Pump Pipe line and Chimney and Cooling tower, Chemical or Petrochemical Factory plant, industry

Victory as Leading Global Insurers at Lloyd’s of London Rule Out Controversial East African Crude Oil Pipeline

London, 30 January 2024 – (via StopEACOP) In a significant win for the natural world and the global movement fighting fossil fuel pollution, leading (re)insurance companies SiriusPoint, Riverstone International, Enstar Group, and specialty insurers Blenheim and SA Meacock, have all officially ruled out involvement in the controversial East African Crude Oil Pipeline (EACOP) project. A …

Korean edition: 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 …

Zurich in the morning by elxeneize

Global association of Insurance CEOs confronted by climate protest at 50th summit – Will they ‘Safeguard the Planet’ or Greenwash business as usual?

Zurich, 28 November 2023 – Insure Our Future campaigners are protesting at the Geneva Association’s 50th anniversary summit in Zurich today, demanding that the global insurance industry take immediate action to slow the climate crisis and support the urgent transition from fossil fuels to renewables.  The Geneva Association calls itself the only international association of …

A shot of natural gas storage tanks in sphere shape in Okayama, Japan

MS&AD Announce Significant Emission Reduction Target

Tokyo, 22 November 2023 – On November 21, MS&AD Insurance Group Holdings (hereafter MS&AD), one of Japan’s three major property and casualty insurers, announced a greenhouse gas (GHG) emission reduction target of 37%  for the underwriting and investment portfolio of its domestic clients by 2030, using 2019 as a baseline year* (PR in Japanese). This …

Campaigners call on the International Association of Insurance Supervisors to take action on climate

Activists gathered in front of the International Association of Insurance Supervisors (IAIS) annual conference venue in Tokyo, Japan, on the 9th of November, asking the global standard-setting body to take decisive measures and strengthen their efforts to prevent the worsening of the global climate crisis. 📣Outside the @IAISNews annual conference last week attended by over …

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 …

Tokyo cityscape at sunset by Claudio Ventrella

Open letter demanding climate risk regulatory action from the International Association of Insurance Supervisors

Tokyo, 31 October 2023 Dear IAIS Executive Committee Chair Saporta and Vice Chair Ariizumi: CC: IAIS Executive Committee, Climate Risk Steering Group Chair and Vice Chair, and Secretariat We write to you today from dozens of climate, environment, and consumer protection organisations, as you prepare for the IAIS annual meeting, to express our deep concern …

The IAIS Needs to Step Up on Climate

Insurance companies continue to insure and invest in fossil fuels and are abandoning climate affected communities instead. The Net Zero Insurance Alliance has failed to define meaningful steps for addressing climate risk, so regulators need to step up. The International Association of Insurance Supervisors (IAIS) holds its annual meeting in Tokyo on November 6-10 and …

Huge quarry bucket excavator works in a hot outdoors slag dump.

Reinsurers fuel the climate crisis while climate victims pay the price

Baden-Baden, 20 October 2023 – Ahead of the annual reinsurance congress in Baden-Baden, Urgewald and the international Insure Our Future network call on reinsurers to end their continued unqualified support of the fossil fuel industry, emissions from which are the prime contributor to global climate change. Reinsurance companies, whose role is to provide insurance to …

Oil refineries illuminated at night in Wakayama, Japan

Tokio Marine’s intermediate decarbonisation target lacks ambition and impact

Tokyo, 2 October 2023 – On September 29th, Tokio Marine, Japan’s biggest property and casualty insurer and the 7th* biggest globally, announced its “Interim Target for 2030 for the Transition to a Decarbonized Society“. It has set an engagement target within its domestic subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), to engage …

Exposed: Insurers of Ichthys LNG – one of world’s biggest gas projects

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 …

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 …

Finance sector has moral imperative to exclude Russian fossil fuel firms

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, …

AIG’s climate commitments are a major step forward for US insurance industry’s exit from fossil fuels

Insurance giant rules out support for new coal, tar sands, and Arctic energy exploration projects and commits to Net Zero emissions by 2050 for underwriting and investments WASHINGTON, D.C. – American International Group Inc. (NYSE: AIG) today announced major new company-wide climate commitments, including commitments to no longer provide underwriting and investments in the construction …

Major insurers invest billions in oil and gas companies with activities in North Sea

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 …

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, …

Climate campaigners call on insurers not to underwrite Gasunie’s proposed Brunsbüttel LNG terminal

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, …

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 …

Climate campaigners protest AIG, Lloyd’s of London and Tokio Marine as coal insurers of last resort

Today, climate campaigners from across the world call on insurance giants AIG, Lloyd’s of London and Tokio Marine to immediately stop insuring and investing in coal. The Insure Our Future network placed a full-page ad in the Financial Times calling out the insurance laggards as climate groups in Japan, South Korea, United States and the …

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