Press Release: Public Interest Groups Seek Nation’s First Rule Mandating Insurance Companies Disclose the Fossil Fuel Projects They Insure

Press Release: Public Interest Groups Seek Nation’s First Rule Mandating Insurance Companies Disclose the Fossil Fuel Projects They Insure

Insurers Blame Climate Change For Mounting Catastrophe Losses Yet Still Insure the Fossil Fuel Infrastructure That Exacerbates Wildfires, Mudslides and Flooding

LOS ANGELES, CA --- More than 60 environmental, consumer and social justice organizations petitioned California Insurance Commissioner Ricardo Lara today seeking first in the nation emergency regulations to require insurance companies to disclose the fossil fuel projects they insure, even as climate change-exacerbated catastrophes are costing insurance companies billions.

Every Two Weeks, An Investor, Bank, or Insurer Restricts Coal Funding

A report from the Institute for Energy Economics and Financial Analysis (IEEFA) released in late February found that on average, somewhere in the world, a bank, lender, or insurer restricts their funding for the coal sector.

No major US insurance companies are among these financiers ditching coal - when will US insurers’ actions reflect the economic and planetary reality?

Europe's Largest Insurers Move To Limit Coal And CO2-Related Risks

Europe's Largest Insurers Move To Limit Coal And CO2-Related Risks

Ken Silverstein | Forbes | December 7, 2018

Just as 200 nations are meeting in Poland to discuss their climate initiatives, Europe’s insurance sector is unleashing its own plan: it is increasing the pace of its investments in green energy while divesting of some businesses that are carbon intensive. Will American insurers make similar moves?

Insurers in UK and US lagging behind in divesting from coal, report finds

Insurers in UK and US lagging behind in divesting from coal, report finds

Julia Kollewe | The Guardian | December 3, 2018

UK and US insurers are lagging far behind European firms when it comes to divesting from coal-heavy businesses and refusing to insure them, campaigners have warned.

At least 19 major insurers holding more than $6tn in assets – a fifth of the industry’s global assets – have now divested from coal, according to a report from the Unfriend Coal campaign, which represents a coalition of a dozen environmental groups including Greenpeace, 350.org and the Sierra Club.

Fossil Fuel Divesture Movement taking hold

Fossil Fuel Divesture Movement taking hold

Michael Finney | KGO | December 03, 2018


SAN FRANCISCO (KGO) -- In the 1980s and 1990s corporations were accused of enabling apartheid by investing in and doing business with South Africa. The divestiture movement took hold and played a major role in ending the racial separation policy. Now a new divestiture movement is being built. This one concentrates on global weather change.

The Global Climate Action Summit which took place in San Francisco a couple months back made international headlines. But there was one panel that you probably never heard a word about, Insure Our Future.

US insurers provide lifeline to coal as global insurance market shrinks

US insurers provide lifeline to coal as global insurance market shrinks

Report shows European insurers leading on restricting coal industry’s access to underwriting while U.S. insurers undermine action to tackle climate change

U.S. insurance companies are lagging behind their international peers on climate action, reveals Insuring Coal No More, the second annual scorecard on the industry from the Unfriend Coal campaign. U.S. insurers are enabling the construction of new coal-fired power plants, which is undermining international efforts to avoid dangerous climate change, the report warns.

Press Release: Major consumer, climate groups call on insurance industry to ditch fossil fuels

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.

US insurers are missing the boat on coal

US insurers are missing the boat on coal

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. 

Op-ed: Stop Insuring Climate Disaster

Op-ed: Stop Insuring Climate Disaster

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.

Insurers go cold on coal industry

Insurers go cold on coal industry

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.

Op-ed: Why Are Insurers Keeping Silent on the Biggest Threat Facing the Planet?

Op-ed: Why Are Insurers Keeping Silent on the Biggest Threat Facing the Planet?

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.