Recap: Insurers Faced Unprecedented Investor Action on Climate in 2022 Shareholder Season

This spring, investors mounted an unprecedented challenge for climate action at the largest U.S. fossil fuel insurers, proposing a number of independent resolutions and spotlighting key director votes at AIG, Berkshire Hathaway, Chubb, The Hartford, and Travelers. Key Takeaways U.S. insurers faced unprecedented challenges from investors who are increasingly concerned about the risk that climate …

The Insurance Industry is Attempting to Weaken Climate-Related Regulation

Today, think tank Influence Map released a report that details the US insurance industry’s efforts, via their trade associations, to weaken climate-related regulation of insurers. The findings provide evidence that, contrary to public statements made by insurers about the grave risk that climate change poses to their industry and the economy, insurance trade associations are …

AIG’s New Climate Commitments a Major Step Forward for Insurance Industry’s Transition Away from Fossil Fuels

Insurance Giant Rules Out Support for New Coal, Tar Sands, and Arctic Energy Exploration Projects and Commits to Net Zero Emissions by 2050 for Underwriting and Investments WASHINGTON, D.C. – American International Group Inc. (NYSE: AIG) today announced major new company-wide climate commitments, including commitments to no longer provide underwriting and investments in the construction …

Major Insurers Invest US $7.9 Billion in Oil & Gas Companies Active in the North Sea

February 8, 2022—Since 2019, 15 of the world’s major insurance companies have invested US $7.9 billion in companies conducting oil and gas drilling in the North Sea, which lies between the British Isles and mainland Europe. The research was conducted by Profundo and published by The Ferret. U.S. companies AIG and Travelers were among the …

Climate Laggard Travelers Adopts Coal & Tar Sands Policy

Policy demonstrates major movement among U.S.  insurers on coal and early movement on tar sands; Travelers is 6th North American company to restrict underwriting for coal and 3rd for tar sands HARTFORD, CT (February 7, 2022)—Insurance giant Travelers adopted a policy committing to not underwrite new coal-fired power plants. It also committed not to underwrite …

Documents Reveal Chubb, MAPFRE, and Tokio Marine Backing Massive Offshore Oil Expansion in Brazil

AXA, Liberty Mutual, and others also implicated in Brazil’s oil expansion plans, despite the IEA’s warnings that limiting warming to 1.5°C requires an end to all fossil fuel expansion January 20, 2022 — Global insurance companies Chubb, MAPFRE, and Tokio Marine insure the majority of Brazil’s offshore oil and gas drilling, according to a report …

Survey of Over 300 Insurance Professionals Finds They Want Climate Action from Their Employers

A recent survey of 345 insurance employees and risk management students found that the majority are deeply concerned about climate change and want the industry to address it.

NEW REPORT: U.S. Insurance Companies Undermine Climate Targets by Supporting Oil & Gas Expansion and Providing a Last Lifeline to Coal

The U.S. insurance industry is undermining efforts to meet climate targets by continuing to support new oil and gas production, the Insure Our Future campaign reveals today in its fifth annual scorecard on insurers’ climate policies.

Open Letter Calls on Insurers to Cut Ties with Trans Mountain, As Key Pipeline Insurance Policy Expires

Indigenous, environmental, and climate groups sent an open letter to twenty insurance companies that have failed to rule out insuring the Trans Mountain pipeline network.

New Analysis Debunks Climate Action Claims in AIG’s ESG Report

Public Citizen released an analysis of AIG’s first ever “Environmental, Social and Governance” (ESG) report, in which the insurer affirms its underwriting and investments in the fossil fuel industry. Advocates find that AIG has not taken adequate climate action given its lack of restrictions on fossil fuels.

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