Global insurance companies linked to Adani’s Carmichael coal mine in Australia are distancing themselves from the controversial development, as pressure mounts on financial institutions to cut their ties to the fossil fuel industry. A growing global consensus has seen financial …
Liberty Mutual Insurance said it will drastically limit future underwriting for and investment in coal risks, an apparent response to environmentalists pushing for greener investment strategies among corporations. To support this change, the insurer has also appointed its first-ever chief …
AXIS Capital Holdings Ltd. won’t insure, invest in or provide insurance or reinsurance for new coal plants or oil pipelines as part of an initiative designed to reduce climate risks and support the switch to renewable energy. The new policy …
A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project, which carries crude from Alberta’s oil sands to British Columbia’s …
Commonwealth Bank of Australia became the latest company to join a global push to reduce emissions and said it would phase out its exposure to thermal coal or power plants by 2030. The company announced a new environmental and social …
One of Britain’s biggest fund managers started selling shares in Exxon Mobil Corp., saying America’s largest oil company isn’t doing enough to address climate change. Legal & General Investment Management, which oversees about $1.3 trillion and is one of Exxon’s …
Europe’s biggest insurers refuse to sell policies to coal miners and arms producers. A Dutch firm may go further by denying coverage to gambling companies and nuclear-power generators. The asset-management arm of ASR Nederland NV already has a list of …
Hannover Re announced it is scaling back its exposure to coal-fired power plants and coal mines, joining a growing list of re/insurers that have made similar moves. In addition to excluding coal-based projects from its investment portfolio, Hannover Re said, …
The Cardif insurance division of BNP Paribas, France’s largest bank, on Monday outlined new targets to reduce its exposure to coal as companies around the world step up fossil fuel divestment plans to improve the environment. Cardif, which has already …
California Insurance Commissioner Dave Jones on Thursday revealed he’s had some success with his 2018 Climate Risk Carbon Initiative Coal Divestment Follow-Up Survey. Jones said the results of the survey reflect an increase in the number of insurers that divested …
