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 …
Insurance companies that have long said they’ll cover anything, at the right price, are increasingly ruling out fossil fuel projects because of climate change – to cheers from environmental campaigners. More than a dozen groups that track what policies insurers …
Munich Re, the world’s largest reinsurer, on Thursday announced stricter policies for investing in and underwriting oil and gas projects, drawing praise from environmental activists. The German reinsurer said on its website that as of April 2023 it would not …
DAVOS, Switzerland – NN Group NV expects to accelerate its deadline to exit coal investments, now set at 2030, due to fears about Europe reverting to burning the fossil fuel, the Dutch insurer’s CEO David Knibbe said on the sidelines …
Europe’s biggest insurer Allianz plans to take a harder line on insuring the oil and gas industry as part of efforts to align its underwriting policies with the world’s climate goal, the company said on Friday. The move is the …
A group of Credit Suisse investors pushing for faster climate action at the Swiss bank has more than doubled in size, raising pressure on its board ahead of its annual shareholder meeting on Friday. Credit Suisse, along with other major …
Lloyd’s of London syndicate Aspen Insurance has decided to cut ties with the existing Trans Mountain pipeline when its current insurance policy expires this summer, according to the climate activist group, Coal Action Network. Aspen joins 16 other insurers that …
