4 March 2021 Last night, after announcing a new environment/social/governance (ESG) exclusion policy that rules out underwriting and investing in thermal coal, Arctic oil and gas exploration and tar sands, major insurance company Hiscox told Market Forces that they “have no interest in coal mines like Adani’s and this [ESG] … Read More
Adani loses another major piece in its insurance puzzle.
25 February 2021 Another Lloyd’s insurer that is currently providing cover for the Adani Carmichael project has committed to not renewing or taking on any new policies with the destructive coal project. In a victory for the #StopAdani movement, Brit, one of Lloyd’s biggest insurers, has committed to not renew … Read More
QBE kicks climate can down the road & keeps supporting oil and gas expansions despite massive loss
19 February 2021 Together with the announcement of a massive A$2b loss due in part to ever-worsening extreme weather, fuelled by the burning of oil and gas, QBE’s updated Environmental and Social Risk Framework, released today, includes oil and gas targets which ignore the urgency of the climate crisis and … Read More
Media release: QBE faces shareholder resolution after kicking climate can down the road
For immediate release: 19 February 2021 QBE’s updated Environmental and Social Risk Framework, released with its full year results today, includes oil and gas targets which ignore the urgency of the climate crisis and are out of line with the Paris Agreement goal of keeping warming to 1.5 degrees. QBE … Read More
As Lloyd’s of London moves away from coal is this the final nail in the coffin for Adani’s access to insurance?
17 December 2020 Under pressure from the #StopAdani and #InsureOurFuture campaigns, Lloyd’s of London has just told its insurers to exclude new insurance for thermal coal mining, tar sands and arctic drilling by 2022 and phase out all insurance cover for these fossil fuels by 1 January 2030. While the … Read More
Media Release: Lloyd’s takes a step away from coal, threatening Adani’s Carmichael project
17 December 2020 Lloyd’s of London will be publishing its first Environment Social and Governance (ESG) Report today, potentially ending the Adani Carmichael coal project’s ability to secure insurance in its marketplace. According to reports, Lloyd’s is recommending companies operating in its market end the provision of new insurance policies … Read More
Media Release: Fidelis becomes 28th major insurer to rule out Adani Carmichael coal project
Wednesday 16 December 2020 In an email to Market Forces (available upon request, received Friday 11 December) specialty re/insurer Fidelis has confirmed that its recently published Environment and Sustainability Statement rules it out of underwriting the Adani Carmichael coal project. This makes it the 28th insurer to publicly make this … Read More
Despite record hurricane season, Bermuda’s insurers still backing coal
7 December 2020 2020’s Atlantic hurricane season has been by far the worst ever recorded. On November 10, Theta became the 29th named storm, surpassing the record from 2005, with three weeks of the official hurricane season still to go. Scientists say the links between worsening storm seasons, elevated ocean … Read More
Adani loses another insurer as Lloyd’s market feels the pressure
29 October 2020 Another Lloyd’s insurer that is providing cover for the Adani Carmichael project has committed to not renewing or taking on any new policies with the destructive coal project. Apollo Underwriters is the latest Lloyd’s syndicate to dump Adani and the second of its current insurers to do … Read More
Suncorp and IAG dumping fossil fuels but policy gaps remain
23 October 2020 Amidst ever-worsening extreme weather and the hits to their bottom lines it is causing, two of Australia’s three big insurers faced shareholders at their annual general meetings this week. Over the last 18 months both have taken significant steps away from supporting coal, oil and gas in … Read More