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

Canada’s Trans Mountain pipeline loses another insurer as U.S.-based Chubb abandons project

Energy Mix: The world’s biggest publicly-traded provider of property and casualty insurance, Chubb, has become the 16th insurer to declare that it won’t back the controversial Trans Mountain pipeline, a coalition of climate and Indigenous campaigners announced yesterday. The flurry of social media activity was triggered by a single tweet from Financial Times insurance correspondent […]

September 16, 2021 Read More →

Swiss Re signs world’s first long-term deal for direct air-capture

Bloomberg ($): Reinsurance giant Swiss Re announced Wednesday that it had signed the world’s first long-term agreement to take carbon directly out of the air. The contract with Climeworks AG, one of the world’s leading direct air-capture startups, will net the climate technology company $10 million over 10 years. Mischa Repmann, a senior environmental management […]

August 27, 2021 Read More →

Tightening ESG policies raise issues for coal-fired plant reinsurers

The Economic Times: Thermal power plants are finding it difficult to obtain reinsurance cover in international markets as global giants tighten their environment, social and governance (ESG) policies. This has created capacity constraints for insuring coal-fired power projects, which are too big for the balance sheets of domestic insurers. Most of the reinsurance markets in […]

April 30, 2021 Read More →

Lloyd’s insurer Tokio Marine Kiln to back out of Adani’s planned Carmichael coal mine

Insurance Business Australia: The top 10 largest Lloyd’s of London insurers have ruled out underwriting the controversial Adani Carmichael coal mine, with Tokio Marine Kiln the latest insurer to announce it would drop “any future underwriting” of the project. Early this month, major Lloyd’s of London syndicate and London-based (re)insurer MS Amlin ruled out insurance […]

April 16, 2021 Read More →

Asian insurance company AIA to exit coal sector by 2028

The Guardian: The Hong Kong-based insurance company AIA, whose logo features on Tottenham Hotspur shirts, has bowed to pressure from campaigners and announced it will pull out of all coal investments by 2028. AIA, the largest independent, publicly listed pan-Asian life insurance group, made the pledge in its environmental, social and governance report released this […]

March 18, 2021 Read More →

Swiss Re to exit coal insurance market by 2040

Bloomberg: Two years after committing to cut its net emissions to zero by 2050, Swiss Re gave more specifics Tuesday on how it plans to achieve its target. The world’s second-largest reinsurer said it intends to reduce the carbon intensity of its corporate bond and equity portfolio by 35% from 2018 levels by the middle […]

March 16, 2021 Read More →

French insurance firm Axa drops RWE over coal

Bloomberg: Axa SA, France’s biggest insurer, is dropping German energy giant RWE AG as a client in a decision that highlights how taboo the coal business has become. Not even an appeal from RWE Chief Executive Officer Rolf Martin Schmitz to his counterpart at Axa, Thomas Buberl, was enough to persuade the insurer to retreat […]

March 12, 2021 Read More →

Japan’s Dai-ichi Life to cut CO2 emissions in investment portfolio 30% by 2025

Nikkei Asia: Dai-ichi Life Insurance will aim to reduce carbon dioxide emissions from its investment portfolio by 30% by 2025, a potentially trend-setting step by one of Japan’s top institutional investors. The insurer, which manages 36 trillion yen ($337 billion) in assets, plans 700 billion yen in sales by fiscal 2023 to reduce its holdings […]

March 5, 2021 Read More →

Britain’s Aviva tightens restrictions on coal, shale gas insurance

Reuters: British insurer Aviva plans to become a net zero carbon emissions company by 2040, it said on Monday, claiming this was the most demanding target set by any major insurer worldwide. The insurer plans to reach net zero carbon emissions from its investments by 2040 and net zero from its own operations and supply […]

March 2, 2021 Read More →

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 →