Insurance

IEEFA Research

IEEFA report: Every two weeks a bank, insurer or lender announces new coal restrictions

IEEFA report: Every two weeks a bank, insurer or lender announces new coal restrictions

Major financial institutions restricting coal funding tops 100

SYDNEY, February 27, 2019 (IEEFA) – Research from the Institute for Energy Economics and Financial Analysis (IEEFA) today reveals over 100 major global financial institutions have introduced policies restricting coal funding. The report, “Over 100 Global Financial Institutions Are Exiting Coal, With More to Come,” finds global capital is fleeing the coal sector at an electrifying […]

February 26, 2019 Read More →

More News and Commentary

IEEFA update: First Chinese major joins over 100 global financial institutions restricting coal finance

In the last two weeks four institutions announced coal exits

SYDNEY — In the last two weeks, four globally significant financial institutions – one leading Chinese financier, two European insurers and one French asset manager – brought in new restrictions on thermal coal financing, insurance and/or investments. Additionally, two important Australian regulatory authorities called on governments and financial markets to prepare for an urgent but […]

March 19, 2019 Read More →

Insurance company Mapfre to stop underwriting new coal mines and power plants

S&P Global Market Intelligence ($): Global insurance group Mapfre SA will no longer underwrite construction of coal mines and coal-fired power plants or invest in electric utilities that derive at least 30% of their revenue from coal-produced energy, the company announced during its annual general meeting March 8. One-third of the global reinsurance market has […]

March 12, 2019 Read More →
IEEFA report: Every two weeks a bank, insurer or lender announces new coal restrictions

IEEFA report: Every two weeks a bank, insurer or lender announces new coal restrictions

Major financial institutions restricting coal funding tops 100

SYDNEY, February 27, 2019 (IEEFA) – Research from the Institute for Energy Economics and Financial Analysis (IEEFA) today reveals over 100 major global financial institutions have introduced policies restricting coal funding. The report, “Over 100 Global Financial Institutions Are Exiting Coal, With More to Come,” finds global capital is fleeing the coal sector at an electrifying […]

February 26, 2019 Read More →

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 →