Insurance

IEEFA Research

IEEFA: AIA too important to lag global insurers in coal investment, divestment, and exclusion

IEEFA: AIA too important to lag global insurers in coal investment, divestment, and exclusion

AIA must back their climate pledges

21 December 2020 (IEEFA Asia): Major insurer AIA still holds anywhere between US $4 – 6 billion in coal and coal-fired power assets that if stranded will massively reduce wealth for investors and despite pledging its commitment to three significant global climate accords according to a new report by the Institute for Energy Economics and […]

and December 21, 2020 Read More →

IEEFA update: Global coal power set for record fall in 2019

Long-term decline of unabated thermal coal use becoming increasingly clear

November 25, 2019 (IEEFA) ‒ Coal-fired power used to make electricity is on track for record declines globally in 2019, finds a new briefing note out today by the Institute for Energy Economics and Financial Analysis (IEEFA), the Centre for Research on Energy and Clean Air (CREA) and Sandbag. The note, Global Coal Power Set […]

and November 25, 2019 Read More →

IEEFA update: Why renewables are the solution for Australia

The case for policies that accelerate investing in renewable energy

23 April 2019 (IEEFA Australia) – Renewables are the lowest cost, most sustainable solution to Australia’s energy policy crisis and potentially one of the country’s largest export industries of the future, according to a briefing note published today by the Institute for Energy Economics and Financial Analysis (IEEFA). The briefing note, Why Renewables are the Solution for Australia: […]

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 […]

and February 26, 2019 Read More →

More News and Commentary

Units of South Korea’s Hanwha Group to stop financial support for coal projects

Power: Affiliates of one of South Korea’s largest business conglomerates announced they no longer will provide financial support for coal projects, putting in jeopardy plans to finish a 2,100-MW coal-fired power plant project that has been expected to come online in 2024. The six financial affiliates of the Hanwha Group, during a video conference on […]

January 6, 2021 Read More →

Desjardins, largest financial cooperative in North America, to stop coal industry investments

Bloomberg: Desjardins Group, the largest financial co-operative in North America, said it will almost completely stop financing companies in the coal industry. The Canadian co-op said it won’t provide investments, loans or underwriting for businesses that operate or develop coal mines, plants or infrastructure, according to a statement posted on Friday. It may still work […]

December 22, 2020 Read More →
IEEFA: AIA too important to lag global insurers in coal investment, divestment, and exclusion
and

IEEFA: AIA too important to lag global insurers in coal investment, divestment, and exclusion

AIA must back their climate pledges

21 December 2020 (IEEFA Asia): Major insurer AIA still holds anywhere between US $4 – 6 billion in coal and coal-fired power assets that if stranded will massively reduce wealth for investors and despite pledging its commitment to three significant global climate accords according to a new report by the Institute for Energy Economics and […]

and December 21, 2020 Read More →

Lloyd’s of London to stop issuing new insurance for coal projects, oil sands and Arctic energy exploration

Reuters: Lloyd’s of London is scaling back its exposure to coal and oil sands, the commercial insurance market said in its first sustainability report on Wednesday, in a reversal of its traditional hands-off approach to climate change strategy. Lloyd’s acts as regulator for around 100 syndicate members, and leaves decisions on underwriting and investment strategy […]

December 17, 2020 Read More →

Samsung’s insurance units to stop investing in coal-fired power projects

Reuters: Key insurance affiliates of South Korea’s biggest conglomerate Samsung Group on Thursday pledged to step up their ‘coal-free’ policies by banning investments in the coal industry, following a global move towards a low-carbon economy. Samsung Fire & Marine Insurance Co Ltd, Samsung Life Insurance Co Ltd and other financial units said in a statement […]

November 13, 2020 Read More →

Lloyd’s insurer Apollo to stop covering Adani’s Carmichael coal mine in September 2021

Reuters: Lloyd’s of London firm Apollo has written insurance for Adani Enterprises’ Carmichael thermal coal mine which expires in Sept 2021 but is not planning to provide any further insurance for the mine, according to a memo seen by Reuters. Carmichael has provoked controversy in Australia because it would open up a new thermal coal […]

October 29, 2020 Read More →

Australia’s Suncorp to stop financing, insuring oil and gas industry by 2025

The Guardian: Major Australian insurer Suncorp will end any financing or insuring of the oil and gas industry by 2025, adding to the group’s existing ban on support for new thermal coal projects. The insurer revealed on Friday it had already stopped insuring, underwriting or directly investing in new oil and gas projects and would […]

August 21, 2020 Read More →

Zurich Insurance pulls out of Trans Mountain pipeline project

Reuters: Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous groups. All financial services companies are under pressure from environmental campaigners to cease doing business with the fossil fuel industry. A planned expansion […]

July 24, 2020 Read More →

Another insurance company walks away from Adani’s Carmichael coal mine project in Australia

The Guardian: Another major insurer that was providing cover for the Adani Carmichael coalmine project in Queensland has said it will not be renewing policies with the coal project. Aspen Insurance is the fourth of Adani’s underwriters to walk away from the major mine and export rail project currently being constructed in the Galilee basin. […]

June 19, 2020 Read More →

Australian insurer QBE completes divestment from thermal coal sector

Australian Financial Review: General insurer QBE has completed its divestment of thermal coal and expects to gradually reduce its investments in other fossil fuels, as it prepares for a surge in demand for environmental and social impact finance after the coronavirus-induced economic crisis. Chief investment officer Gary Brader, who manages $US23.5 billion ($35 billion) worth […]

June 2, 2020 Read More →