<
https://global.insure-our-future.com/with-new-coal-uninsurable-insurers-start-to-move-on-oil-and-gas/>
"
62% of reinsurers now have coal exit policies and 38% have oil and gas
exclusions as shift away from fossil fuels accelerates
Insurance company restrictions on oil and gas are finally starting to catch up
with those on coal, according to new data from the Insure Our Future campaign.
Ahead of COP27, the campaign coalition argues that insurers must now fully exit
new coal, oil and gas, and demonstrate that the industry is ready to deliver on
its net zero commitments.
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 which have yet to
adopt any restrictions on providing cover to coal, oil or gas projects,
including US insurers Berkshire Hathaway and Starr and Bermudian carrier
Everest Re. The UK’s Lloyd’s of London also scores very poorly, having
announced a coal exit framework in 2020 but then backtracked by declaring it
optional.
Liberty Mutual, Chubb and Tokio Marine have adopted some restrictions on coal
but actively insure the expansion of the oil and gas industry. Chinese insurers
PICC and Sinosure have not adopted any fossil fuel restrictions but, following
Chinese government policy, will no longer cover new coal power plants
overseas."
Via
Future Crunch Oct 28, 2022:
<
https://futurecrunch.com/good-news-clean-water-rewilding-spain-tipping-points-clean-energy/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
