More News and Commentary

Major insurers back away from Adani’s planned Carmichael mine in Australia

S&P Global Market Intelligence ($): A group aggressively working across the globe to push insurance companies away from the coal sector say some of the world’s largest insurers will not be covering Adani Mining Pty Ltd’s controversial Carmichael coal mine in Australia. Ten of the world’s top insurance companies have explicitly refused to insure the […]

December 20, 2018 Read More →

Study: U.S., U.K. insurers lagging in coal divestment efforts

The Guardian: UK and US insurers are lagging far behind European firms when it comes to divesting from coal-heavy businesses and refusing to insure them, campaigners have warned. At least 19 major insurers holding more than $6tn in assets – a fifth of the industry’s global assets – have now divested from coal, according to […]

December 4, 2018 Read More →

Norwegian insurer plans total coal exit by 2026

Bloomberg: The biggest publicly traded life insurer in Norway, Storebrand ASA, is planning a total exit from coal by 2026. They’re one of a widening field of investors withdrawing from the most polluting fossil fuels as the threat of climate change reshapes asset management. The asset manager has already excluded 64 companies with ties to […]

November 30, 2018 Read More →

Italy’s largest insurer to stop covering new coal projects

Reuters: Italy’s biggest insurer Generali said on Friday it would stop offering insurance coverage for new coal mines and plants, marking a step up in the company’s support for green policies. Generali’s action, which comes ahead of a United Nations climate change conference in Poland in December, is the latest by a big insurance company […]

November 13, 2018 Read More →

Japan’s Nippon Life to end lending for new coal projects

The Asahi Shimbun: Nippon Life Insurance Co. plans to become the first leading Japanese financial institution to reject investments and loans into new coal-fired power generation projects at home and abroad, a company source said July 12. The decision, made by Japan’s largest life insurance company, may have a domino effect across the financial industry. […]

July 16, 2018 Read More →

Swiss Re steps away from coal insurance business

Greentech Media: Swiss Re took a step forward this week in its commitment to manage carbon-related sustainability risks and support the transition to a low-carbon economy. As of Monday, the Zurich-based firm no longer provides insurance or reinsurance to businesses with more than 30 percent exposure to thermal coal. The thermal coal policy announced in […]

July 6, 2018 Read More →

Insurance Company Retreat From Coal Gathers Steam

Sydney Morning Herald: A quiet revolution is happening in insurance, as many of the industry’s big players pull their backing and investment from the coal power sector, potentially raising the price of electricity. About 10 percent of global insurance assets are being impacted by these changes, but risk management firm Aon believes that as the […]

May 21, 2018 Read More →

Germany’s Allianz Drops Insurance for Coal Plants, Mines

Deutsche Welle: Munich, Germany-based Allianz Group announced on Friday that it would refuse insurance coverage of coal-fired power plants and coal mines with immediate effect and would aim to get rid of all coal risks in its business by 2040. In addition, Europe’s biggest insurer said it would stop investing in companies that do not […]

May 4, 2018 Read More →

Lloyd’s of London Urged To ‘Rewrite Rule Book’ to Stop Insuring Coal Plants

The Telegraph: Lloyd’s of London is facing pressure from climate change groups to rewrite its rule book so that insurers no longer insure risky coal projects.  The insurance market has already promised to distance itself from fossil fuels in April, but pressure groups are urging Inga Beale, the chief executive, to do more to drive […]

February 27, 2018 Read More →