Top insurance companies suffered $10.6 billion of climate-attributed losses this year, just shy of the $11.3 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Of the 28 insurers reviewed, more than …
Whitehaven Coal Ltd., one of Australia’s largest coal producers, shelved a planned special purpose vehicle originally intended to provide in-house insurance after finding external insurers willing to take on the risk. The development follows Sydney-based Whitehaven’s $3.2 billion purchase of …
More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are scheduled …
Some of the world’s major economies want to finalize a plan ahead of this year’s U.N. climate summit to halt new private sector funding for coal projects, five sources with direct knowledge of the matter told Reuters. If approved, the …
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 …
