Latest

Questions about companies’ plans to address climate change dominate general meetings, shareholder proposals fail to receive majority support At their annual general meetings (AGMs) this year, U.S insurance companies Chubb, The Hartford, and Travelers and their largest shareholders failed this proxy season’s climate test. Concerned investors filed resolutions to address the climate and human rights-related …

Hartford, CT – Traveling over 4,300 miles from Alaska to Connecticut, the Gwich’in Steering Committee delivered a statement today at the Annual General Meeting (AGM) of Travelers, a major U.S. company with a history of underwriting oil and gas projects. Trillium Asset Management, shareholders of Travelers, invited GSC to speak on behalf of their proposal …

Hartford, CT – Advocates calling for climate action from The Hartford said the insurer and its largest shareholders failed the climate test in light of results of a vote on a climate shareholder resolution at the company’s annual general meeting (AGM) last Wednesday. Shareholders were asked to vote on a resolution filed by Green Century …

Shareholders reject resolutions on climate change and human rights Zurich, Switzerland (May 17, 2023) – Unlike last year, in which 72% of shares cast supported a resolution from As You Sow, shareholders of Chubb Limited (NYSE: CB) did not pass the same measure on if and how it plans to measure, disclose, and reduce its emissions associated …

This factsheet compares Chubb’s new climate commitments against science-based recommendations and global peer insurers’ climate policies. Background: In March, the world’s leading climate science body IPCC issued a “final warning” to scale up rapid action to get on a 1.5 ̊C pathway, by stopping fossil fuel expansion. The same month, Chubb announced new policies stating …

This past week, Chubb, The Hartford, and Travelers released proxy statements urging shareholders to vote against the climate and human rights resolutions on the ballot at their annual general meetings in May. These insurers are facing a growing challenge from investor advocates to curb fossil fuel underwriting, reduce emissions, and respect Indigenous rights, and, in …

Rainforest Action Network’s Assessment of Chubb’s Climate Commitments On March 22, 2023, Chubb announced a new suite of policies to restrict underwriting oil and gas extraction based on conservation and methane emissions criteria. Chubb will not insure oil and gas extraction projects that are located in specific protected areas or do not have evidence-based plans …

Texas is ground zero for attacks on investor freedom to assess material risk. In 2023, 21 bills have been filed to prevent financial institutions and the state pension fund from considering environmental and climate risks, including two proposals targeting the insurance industry specifically.  It is critical that insurers are allowed to fulfill their role as …

But Chubb proxy will include resolutions on emissions reductions and human rights reporting March 29, 2023 (Washington, D.C.) – Yesterday afternoon, the U.S. Securities and Exchange Commission (SEC) shared that it had rejected a shareholder resolution filed at Chubb calling on the insurer to adopt a time-bound phase out of underwriting new coal, oil, and …

Every year, the Insure Our Future network publishes an open letter to the CEOs of 30 major insurance companies whose fossil fuel policies are ranked annually by Insure Our Future, among which are: AIG, Allianz, AXA, Chubb, Generali, Liberty Mutual, Lloyd’s of London, Munich Re, SCOR, Sinosure, SOMPO, Tokio Marine and Zurich. The letter outlines …

Activists with the Connecticut Citizens Action Group brought banners and a marching band to the entrance of the Travelers Championship Golf Tournament today to protest Travelers’ role in the climate crisis. “Travelers Underwrites Climate Change,” read their banner, referencing that Travelers is one of the world’s top insurers of the fossil fuels driving climate change.

For more information, contact: Jamie Kalliongis, (314) 651-7497, [email protected] Photos from Zurich are here Photos from New York are here  May 19, 2021 (New York, NY) — 70 groups delivered a letter today calling on Chubb CEO Evan Greenberg to strengthen Chubb’s weak coal policy and stop insuring new oil and gas. Citizen groups wearing …

April 29, 2021 (Queensland, Australia) – Insurance giant Liberty Mutual has indicated that it will not move forward with a massive proposed new coal mine today, after facing a sustained, years-long campaign against the project from local communities in Central Queensland, Australia and pressure from the US-based Liberty’s Climate Crisis coalition. The Environmental Impact Statement …

As the Olympics Torch Relay kicks off in Japan, actions  in Tokyo, Seoul, Delhi, Jakarta, New York, San Francisco, Sydney and Melbourne demand Tokio Marine take climate action Read the Investor Brief Starting March 25, actions around the world mark the global launch of a campaign calling on insurance giant Tokio Marine to stop underwriting and investing …

Despite adopting a coal investment screen in 2020, MetLife is on a fossil fuel investment spree in Eastern Europe.

Hanover has committed to cease new investments in many coal and tar sands companies and partly divest from these sectors by 2025.

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 …

Lloyd’s announcement highlights the ever-growing gap between U.S. insurance companies and their global peers on climate action.

In January 2020, outgoing AIG CEO Brian Duperreault made a point of saying that AIG will continue to offer insurance for the coal industry. Perhaps it’s not surprising, then, that AIG is at the back of the pack on climate action.

U.S. insurance companies lag behind their global peers and play a key role in enabling the fossil fuel industry, the Insure Our Future campaign revealed today in its fourth annual scorecard on insurers’ climate policies.