Zurich Insurance Group AG will no longer underwrite new oil and gas projects, and is cracking down on clients planning to expand in metallurgical coal mining. The restrictions also entail asking the highest-emitting corporate customers to reduce their carbon footprints, …
France, backed by the United States, plans to seek a halt to private financing for coal-based power plants during the U.N. climate conference later this month, three sources familiar with the deliberations told Reuters in India and Europe. The plan, …
Insurers are continuing to provide cover for increased oil and gas production even as they face large losses fueled by climate change, according to a new report. About 80% of the insurance market and 53% of the reinsurance market don’t …
Some of Europe’s biggest insurers are underwriting close to a third of the coal production that takes place in the US, even after pledging to target net zero emissions, according to a report by climate campaign group Insure Our Future. …
Australian miner New Hope Group’sCEO Rob Bishop said on Tuesday plans are progressing to double output over the next three years to meet an expected surge in demand for coal-fired power, after reporting a nearly 11% rise in fiscal 2023 …
Some coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business amid a surge in demand for …
Banks and insurers are more frequently adding coal exclusion policies to their investments while those with existing policies are toughening them up despite record profits in the sector, according to a report on Thursday. More than 200 financial institutions globally …
Chubb Ltd. announced new underwriting criteria for oil and gas extraction projects that will require clients to reduce methane emissions, a by-product of oil and gas production that are among the most severe greenhouse gases. Chubb also announced it will …
International investors with $2.2 trillion in assets will ask commodity giant Glencore Plc to show how its development of thermal coal mines meets the goals of the Paris climate accord to keep global warming to 1.5 degrees. Glencore is one …
The Dutch state does not have to compensate German energy suppliers RWE and Uniper for the decision to close coal-fired energy plants in the Netherlands by 2030, a Dutch court ruled on Wednesday. RWE owns two of the current four …
