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New campaign calls out US insurers to stop investing in coal

Published by
World Coal,


On the eve of the Global Climate Action Summit (GCAS), a new campaign, Insure Our Future, is calling out the US insurance industry as a major contributor to climate change and urging them to ditch fossil fuels. Insure Our Future is the first campaign focusing on the US insurance industry’s significant role in perpetuating climate chaos.

The campaign launches as Lemonade, an insurance company powered by AI, becomes the first US insurer to commit to never invest in coal, urging other insurers to follow suit.

Insurers were among the earliest voices warning about climate change in the 1970s, recognising the potential for sharply increasing risk in an uncertain future. Yet, this knowledge hasn’t so far translated into preventative action.

Insure Our Future and Lemonade’s announcements became public during a panel at GCAS featuring California’s Insurance Commissioner Dave Jones and representatives from major insurers, climate advocacy and consumer organisations. The panel discussed the important role the insurance industry can play in decarbonising the economy.

The campaign launches almost two months after 17 leading consumer, climate and social equity NGOs sent a letter to 22 major US insurers, urging them to stop insuring and investing in coal and tar sands and to scale up their support for clean energy. Not one insurance company, including AIG, Liberty Mutual, Berkshire Hathaway, Prudential and MetLife, has so far substantively responded to the 13 July letter.

 

Read the article online at: https://www.worldcoal.com/coal/13092018/new-campaign-calls-out-us-insurers-to-stop-investing-in-coal/

 

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