Insurance companies are supposed to protect us from catastrophic risks. Yet when it comes to the largest threat to humanity – climate change – insurers are fueling dangerous global warming by perpetuating our dependence on dirty fossil fuels.
Insure Our Future is a campaign demanding that U.S. insurers stop making climate change worse by ending insurance for and investments in coal and tar sands projects and companies. We are part of the global Unfriend Coal campaign, which promotes a rapid shift of the insurance industry from supporting and financing fossil fuels to accelerating the transition to a clean energy economy.
$31 trillion: The estimated amount of funds under management by insurance companies at the end of 2014. After pension funds, the insurance industry is the world’s second largest institutional investor.
$450 billion: The amount of combined investments the 40 largest US insurers hold in coal, oil, gas and electric utilities.
$5.9 trillion: The projected amount of additional investments needed in clean energy technologies over the next 25 years to transition the world to low carbon energy and meet the goals of the Paris Climate Accord.
800: Coal power plants currently planned or under construction globally.
0: Coal plants that can be built and still keep global temperature increase below 2 degrees Celsius
22: Major insurance and reinsurance companies (European and Australian) that have adopted coal and/or tar sands divestment policies, resulting in the withdrawal of at least $30 billion from the coal sector.
13: Major insurance companies (European and Australian) that have stopped or limited their insurance coverage for coal and/or tar sands industries.
0: Major US insurers that have committed to end underwriting or investments in fossil fuel companies and projects