Our Demands

We call on insurance companies to:

  1. Immediately cease insuring new and expanded coal, oil, and gas projects.*
  2. Phase out, in line with a credible 1.5ºC pathway, insurance for coal, oil and gas companies.**
  3. Divest all assets, including assets managed for third parties, from coal, oil, and gas companies that are not aligned with a 1.5ºC pathway.
  4. Bring stewardship activities, membership of trade associations and public positions as a shareholder and corporate citizen in line with a 1.5ºC pathway in a transparent way.
  5. Prepare and adopt binding targets for reducing your insured emissions which are transparent, comprehensive and aligned with a credible 1.5ºC pathway.
  6. Establish, and adopt as policy, robust due diligence and verification mechanisms to ensure clients fully respect and observe all human rights, including a requirement that they obtain and document the Free, Prior, and Informed Consent (FPIC) of impacted Indigenous Peoples as articulated in the UN Declaration on the Rights of Indigenous Peoples.

**New oil and gas expansion projects are defined as those that result in an increase in developed reserves, or infrastructure projects that drive expanded extraction.* Coal companies are defined as those that:

**These thresholds will need to be revised, consistent with the climate imperative to exit coal by 2030 in EU/OECD countries and by 2040 globally. This coal exclusion should not include workers’ compensation and existing mine reclamation surety bonds.

  • Generate at least 20% of their revenue from mining and transporting coal at least 20% of their electricity from burning coal
  • Produce at least 10 million tons of coal per year, or operate at least 5 GW of coal-fired power stations;
  • Are planning new coal mining, power, or other infrastructure projects.