Big Insurers Are Ditching Coal

Swiss Re, one of the biggest re-insurance companies in the world has announced that it will no longer insure companies that get 30% of their revenue, or generate 30% of their power from coal burned for energy. The company says it "supports a progressive and strcutured shift away from fossil fuels." The thermal coal policy announced in June 2017 and implemented this week was based on Swiss Re's pledge to adopt the principles of the Paris climate agreement in 2015, which seeks to kep global warming under 2 degrees Celcius. More here.

 

Sonja DuncanComment