Couldn’t make it to the Insure Our Future panel at the Global Climate Action Summit? Watch the full panel here.
New campaign Insure Our Future to hold US insurers accountable for role in climate change as first US insurance company to commit not to invest in fossil fuels
SAN FRANCISCO - On the eve of the Global Climate Action Summit (GCAS), a new campaign, Insure Our Future, is calling out the U.S. insurance industry as a major contributor to climate change and urging them to ditch fossil fuels. Insure Our Future is the first campaign focusing on the U.S. insurance industry’s significant role in perpetuating climate chaos.
The campaign launches as Lemonade, an insurance company powered by AI, becomes the first U.S. insurer to commit to never invest in fossil fuels, urging other insurers to follow suit.
By Peter Bosshard | Thomson Reuters Foundation
After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal.
As professional risk managers, insurance companies quietly shape modern society, deciding what type of projects can be financed, built and operated. After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal. Only the US insurance industry is missing in action.
Sunrise Project | July 24, 2018
SF becomes first US city to push insurance industry to stop insuring coal and tar sands.
By Bill McKibben | May 9, 2017 | La Nacion
RIPTON, VERMONT – Last month, the United Kingdom enjoyed its first full day without the need for coal power since the Industrial Revolution began. That's remarkable news – and a sign of the future to come as the country that began humanity's centuries-long romance with burning black rocks is now moving on.
By Jacques Leslie | March 13, 2018 | Los Angeles Times
Despite being part of an industry predicated on anticipating risk, American insurance companies seem distinctly muddled about climate change.
By Oliver Ralph | January 7, 2018 | Financial Times
The world’s biggest insurers are opening up a new front in efforts to cut down on coal use by refusing to offer cover to miners and power generators that use the polluting fuel. Industry executives are worried about the potential for global warming to drive up insurance claims, leading to a debate about whether to cover companies that contribute to the problem.
VICE News | November 28, 2017
Following last week’s UN climate conference where 23 countries and states signed a $50 million initiative to phase out coal by 2030, VICE News explores how the coal industry is being dumped by insurers.
Peter Bosshard | July 27, 2017 | Huffington Post
As a group, insurance companies are also the second biggest institutional investor in our economy after pension funds. According to Ceres, an environmental research group, 40 leading U.S. insurers had invested at least $459 billion in the fossil fuel sector by the end of 2014. The insurance industry is even more heavily invested in fossil fuels than your average index fund.
By Tom Sanzillo | June 29, 2017 | Pension & Investments
Insurance underpins our industrial society. Without prudent risk management by the insurance industry, no high rise can be built and no major factory can be operated.
An insurance scorecard on coal and climate change