fossil fuels News

California Insurance Commissioner Launches Report and Site Outlining Insurer Fossil Fuel Investments

California Insurance Commissioner Ricardo Lara on Monday issued a new report and webpage detailing insurer investments in fossil fuels. The report is a study of fossil fuel investments by insurers, identifying insurance company holdings in green bonds that support clean …

Nearly 8-in-10 Executives Believe World Is at ‘Climate Change Tipping Point’

Two-thirds of executives say their companies are “very concerned” about climate change, and 79% believe the world is at “a climate change tipping point,” according to the recently released Deloitte 2022 CxO Sustainability Report. Deloitte polled more than 2,000 C-suite …

150 Years of Spills: Philadelphia Refinery Cleanup Reveals Toxic Legacy of Fossil Fuels

Wearing blue hard hats, white hazmat suits and respirator masks, workers carted away bags of debris on a recent morning from a sprawling and now-defunct oil refinery once operated by Philadelphia Energy Solutions (PES). Other laborers ripped asbestos from the …

Fossil Fuel Pollution Kills 8.7 Million People Annually Across the Globe: Research

Efforts to slow the process of global warming focus on the future harms of continuing to burn fossil fuel, but new research released Tuesday shows that deadly consequences from pollution are killing larger numbers of people right now than had …

Report Urges Insurers to Eye Impact of Climate Change on Underwriting, Investments

Insurers can no longer put off addressing the impact of climate change on their underwriting, pricing, and investment decisions, as well as their bottom lines, a recent analysis from Deloitte asserts. “The escalating frequency and severity of extreme weather-related events …

Groups, Officials Pen Letter to 3 Large California Insurers Asking Them to Ditch Fossil Fuels

Several dozen activist groups, businesses and elected representatives released a letter on Thursday to the CEOs of Liberty Mutual, AIG and Farmers calling on the three biggest fire insurers in California to stop fueling the “climate crisis” that is creating …

California Commissioner Yet to Move on Petition from Climate Activists for More Insurer Regs

Nobody’s saying much as California Insurance Commissioner Ricardo Lara considers how he will respond to a petition submitted by climate change activists urging him to place new regulations on insurers to disclose what projects in the fossil fuel industry they …

Climate Activists to Pressure U.S. Insurers Underwriting Fossil Fuel Industry

Expect calls for the insurance industry to stop investing in or insuring the fossil fuel industry and fossil fuel projects to grow louder in California and throughout the U.S. A new petition by several climate change and consumer activist groups …

Europe’s Banks Move to Greener Finance in Response to Climate Change Risks

Some of Europe’s largest banks are unveiling plans to lend and manage money in greener ways as pressure mounts to account for risks associated with climate change. “It is coming, it’s a trend that’s started,” said Louis Douady, head of …

Many Large Investors Tackle Climate Risks with Greener Investments

Most of the world’s largest asset owners have gotten the message that climate change poses a risk to their portfolios and are pivoting toward greener investments. Funds worth $27 trillion that comprise 60 percent of the world’s biggest investors are …