Media release: Chubb’s coal policy has an Australia-sized loophole

July 9, 2019 Chubb’s new restrictions on its underwriting and investments in thermal coal have come under attack from Australia, as groups there call upon the insurer to clarify its stance on the controversial Adani Carmichael coal project. Chubb’s policy rules out underwriting new risks from companies that receive more … Read More

QBE dumps thermal coal due to global warming

QBE Sydney Market Forces action 2018

2 April 2019 On Saturday, Australia’s biggest coal underwriter (insurer) took the positive step of committing to phase out its entire thermal coal business by 1 January 2030. QBE also ruled out providing insurance to any new thermal coal mine, power plant or transport network from 1 July 2019, and … Read More

Media Release: Market Forces welcomes QBE’s end to coal finance

Saturday 30 March, 2019: The announcement today by Australia’s largest insurer, QBE, to end its support for the coal industry has been welcomed by environmental finance group Market Forces. “QBE’s decision to withdraw insurance from the coal industry is business and environmental good sense,” said Market Forces campaigner Pablo Brait. … Read More

Shareholders pressure QBE to end fossil fuel support

Market Forces campaigner Pablo at QBE's Sydney headquarters about to lodge shareholder resolution 2019

Today, shareholders coordinated by Market Forces together with the $2.85 billion investment manager Australian Ethical, lodged a resolution calling on QBE Insurance to set targets that reduce its investment in and underwriting of coal, oil and gas companies, in line with keeping global warming below 1.5C. This move comes off … Read More

QBE shareholders: take action!

Tell QBE you want them to adopt your shareholder resolution on phasing out fossil fuels 5 March 2019 Today, thanks to you, we lodged a shareholder resolution for QBE’s annual general meeting co-filed with Australian Ethical, an investment manager with $2.85 billion under management. They’ve joined our call for QBE … Read More

QBE staff get donuts as QBE scores donuts on climate action scorecard

QBE Sydney Market Forces action 2018

Tuesday 4 December 2018 This morning staff arriving at global insurance company QBE’s head office in Sydney were offered free donuts by Market Forces volunteers. The donuts represent QBE’s shameful zero scores on the international insurance climate scorecard released this week. Twenty-four global insurance companies were rated on their coal … Read More

QBE falling behind competitors on climate action

Monday 3 December 2018 All over the world, the damage humans are doing to our climate is increasingly evident. Heat records are being smashed, droughts are taking their toll, floods and bushfires are costing lives and homes. Both the UN and the International Energy Agency have released reports proving that … Read More

Media Release: New campaign targets QBEs climate hypocrisy

Monday 2nd May, 2016 As QBE prepares for its Sydney AGM in Sydney on Wednesday, Market Forces has today launched a new campaign calling on the insurance company to stop ‘making climate change possible.’ Activists this morning visited the company’s headquarters in Sydney, to colourfully highlight the company’s role as a major insurer … Read More

Climate change: made possible by QBE

Activists this morning gave QBE’s headquarters a colourful new rebranding, illustrating how the insurance company was making climate change possible through its underwriting of major fossil fuel projects.