coal investments News

Lloyd’s Insurer Brit to Stop Insuring Australia’s Adani Coal Mine

Major Lloyd’s of London insurer Brit will not insure Adani Enterprises’ Carmichael thermal coal mine, it said on Tuesday, adding to a growing list of Lloyd’s insurers who have made similar pledges. Carmichael has provoked controversy in Australia with its …

Construction of Controversial UK Coal Mine Now Under Review After Climate Backlash

Construction of a coal mine that threatened UK Prime Minister Boris Johnson’s claim to be a world leader in the fight against climate change is under review after growing opposition. The Woodhouse Colliery would be the first new deep coal …

AIA Cuts Coal Investments as Scrutiny Grows on Financial Firms’ Carbon Assets

AIA Group Ltd. said it’s paring coal-related investment as financial firms globally face pressure to reduce their carbon assets. The Hong Kong-based insurer said it decided to end all direct equity investments in coal mining and coal-fired power producers earlier …

Coal Financing Drying Up as More Countries Target Zero Carbon Emissions

TOKYO – Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping the world, participants at Asia’s biggest gathering of the coal industry said on Tuesday. The …

Top Investor Group Including Allianz Warns Firms to Cut Ties to Coal

Some of the world’s largest insurers and pension schemes are warning companies they invest in not to finance, insure, build, develop or plan new thermal coal plants or face sanctions, including possible divestment. The Net-Zero Asset Owner Alliance, whose members …

Insurers Distance Themselves from Disputed Australia Coal Project as Backlash Grows

Global insurance companies linked to Adani’s Carmichael coal mine in Australia are distancing themselves from the controversial development, as pressure mounts on financial institutions to cut their ties to the fossil fuel industry. A growing global consensus has seen financial …

Liberty Mutual to Limit Coal Underwriting, Investments; Names First Sustainability Officer

Liberty Mutual Insurance said it will drastically limit future underwriting for and investment in coal risks, an apparent response to environmentalists pushing for greener investment strategies among corporations. To support this change, the insurer has also appointed its first-ever chief …

AXIS Capital Sets Clean Energy Policy Designed to Reduce Climate Risks

AXIS Capital Holdings Ltd. won’t insure, invest in or provide insurance or reinsurance for new coal plants or oil pipelines as part of an initiative designed to reduce climate risks and support the switch to renewable energy. The new policy …

Insurers Pressured to Drop Coverage of Canada’s Oil Sands Pipeline

A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project, which carries crude from Alberta’s oil sands to British Columbia’s …

CBA Joins Other Australian Companies with Aims to Cut Coal Exposure

Commonwealth Bank of Australia became the latest company to join a global push to reduce emissions and said it would phase out its exposure to thermal coal or power plants by 2030. The company announced a new environmental and social …