The Hartford’s Net Zero Announcement More Marketing than Climate Action
HARTFORD, CT (April 07, 2022) – Today, The Hartford announced a goal to achieve net zero emissions “for its full range of businesses and operations” by 2050. It did not provide any additional details on short-term actions, interim targets, or metrics to measure progress on emissions reductions. In response, Tom Swan, Executive Director of Connecticut Citizen …
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.
Why are Connecticut Climate Activists Rallying at a Golf Tournament? The Climate Crisis is Why.
In April 2021, Travelers, the second-largest property and casualty insurer in the US, announced plans to become carbon neutral across its owned operations by 2030. However, that commitment failed to address Travelers’s massive contribution to climate change: its underwriting and investment portfolios.
In Global First, Connecticut Passes Bill Addressing Insurers’ Participation in Risky Fossil Fuel Finance
The Connecticut General Assembly passed a bill implementing the state budget, which includes a provision requiring the Connecticut Department of Insurance to address the climate-related risks of insurers. This provision, Section 346 of the bill, will be the nation’s first law requiring insurers to address climate risk.
Senators Whitehouse, Warren, Merkley, and Van Hollen call on U.S. Insurance Companies to Act on Climate Change
WASHINGTON (March 25, 2021)–A letter spearheaded by Senator Sheldon Whitehouse (D-RI) asks AIG, Berkshire Hathaway, Chubb, Liberty Mutual, Travelers and other US insurers to explain how their fossil fuel underwriting and investment policies align with their sustainability commitments. The letter was also signed by Senators Jeff Merkley (D-OR), Elizabeth Warren (D-MA), and Chris Van Hollen …
Coal Exit Policies Add Billions of Dollars to Insurers’ Shareholder Value, Analyst Report Suggests
The following commentary by Peter Bosshard first appeared in Environmental Finance. Climate campaigners have pushed insurance companies to exit the coal sector for many years. They have now received support from an unexpected source: financial analysts. “We think the insurance sector’s most important contribution to ESG is exiting coal underwriting”, a recent report issued by the …
Somerville and Cambridge Join Growing Trend of Cities Calling on Insurance Companies to Stop Insuring and Investing in Fossil Fuels
Two recent Massachusetts city council resolutions are part of a growing trend of local legislators and fiduciaries pushing insurance companies to take responsibility for their role in the climate crisis.
Massachusetts State Legislators Call on Liberty Mutual to Cut Ties with Fossil Fuels
In an open letter penned to Liberty Mutual CEO David Long, the group of 38 state senators and representatives wrote: “Now more than ever, the insurance sector must accelerate the transition to a low-carbon economy by phasing out fossil fuel insurance and investments. As the fifth-largest property and casualty company worldwide, Liberty Mutual is in a unique position to push for an energy transition at a global scale.”
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