A week into the United Nations’ high-profile climate conference in Glasgow, executives and financial analysts said they are optimistic the talks will lead to changes needed for business to play a bigger role in tackling climate change. The business observers …
GLASGOW – A pledge to phase out coal gained the support of 23 more countries at the U.N. climate conference on Thursday, but was shunned by big users of the dirtiest of the fuels that cause global warming. The COP26 …
GLASGOW – Government representatives at the U.N. climate conference in Glasgow on Thursday will turn their focus to tackling the global economy’s addiction to fossil fuels with a raft of new pledges aimed at curbing production and use of oil, …
Banks and asset managers representing 40% of the world’s financial assets have now pledged to meet the goals set out in the Paris climate agreement, as an alliance championed by former central banker Mark Carney swells under the gaze of …
Climate protesters spilled a 1,000 liters (220 gallons) of fake oil outside Lloyd’s of London Friday, part of a campaign to draw attention to the finance industry’s financing of fossil fuels. The activists were protesting the insurance marketplace’s underwriting of …
AXIS Capital Holdings Ltd. said it will phase out insurance cover and investments in the coal business globally within the next 20 years. “It is our belief at AXIS that [insurance/reinsurance] industry needs to move to the forefront of the …
For the insurance industry to fulfill its stated commitment to combat climate change, it may want to accelerate its efforts to exit the oil and gas industry. To date, just one insurer has promised to take “significant action” in this …
Legal & General Investment Management will sell holdings in four companies including U.S insurer American International Group Inc. after deeming they’re making insufficient progress on addressing climate change risks. The UK asset manager said in a statement on Tuesday it …
Lloyd’s insurer Argo Group has decided to stop insuring Canada’s Trans Mountain tar sands pipeline when its current insurance policy expires on Aug. 31, 2021, following similar moves by other companies such as Zurich Insurance, Talanx and Munich Re. “This …
Swiss Re announced new measures to support the transition to a net-zero economy by 2050, which encompass re/insurance underwriting, asset management and its own operations. “Climate change remains the biggest challenge we face as a society. The stakes are high …
