Asia is Ground Zero of the global coal fleet. Two thirds of the world’s coal power plants are located in the region, and another 585 plants – 76% of the global pipeline – are still under construction or in the planning phase in Asia. The Intergovernmental Panel on Climate Change (IPCC) is clear on how […]
Pressure is building on Liberty Mutual to rule out the project. By Elana Sulakshana, Energy Finance Campaigner at Rainforest Action Network An Indian company is desperately clinging to its plans to build one of the world’s largest coal mines in Eastern Australia. In addition to being a massive source of carbon emissions, Adani Group’s Carmichael […]
Australia’s insurance giant QBE has become the first insurer outside Europe to adopt coal restrictions, in a move that will add to the pressure on Japanese, Chinese and Korean coal insurers to follow suit. “QBE’s decision to withdraw insurance from the coal industry is business and environmental good sense,” said Market Forces Campaigner Pablo Brait. […]
Austria’s Uniqa will stop insuring new coal plants and mines, becoming the tenth insurer to announce restrictions on its cover for coal. The new policy is available here. For existing clients, Uniqa will decide whether to renew contracts in 2025, depending on the energy transition plans of each client. Lucie Pinson, European Coordinator of the […]
Spain’s Mapfre is to stop insuring new coal plants and mines, becoming the ninth insurer to announce restrictions for its cover to coal. In a statement Mapfre also re-announced that it will end investment in energy companies that derive more than 30% of income from coal. The company also announced plans to be carbon neutral […]
By Peter Bosshard, Coordinator of the Unfriend Coal campaign We have only 12 years left to save the planet from devastating climate change, the Intergovernmental Panel on Climate Change warned last October. With important governments missing in action, financial institutions have now emerged as unlikely allies of climate activists. In recent months banks and other […]
Austria’s Vienna Insurance Group (VIG) is to stop insuring new coal plants and mines, becoming the eighth insurer to announce restrictions on its cover for coal. The new coal policy is available here and Lucie Pinson, European coordinator of the Unfriend Coal campaign, is available for interview. She said: “VIG’s announcement that it will no longer […]
By Peter Bosshard, Coordinator, Unfriend Coal campaign Scientists have warned that we need to leave most fossil fuels in the ground to keep global temperature increases to 1.5 degrees. We cannot afford to build any new coal projects and must phase out existing coal power plants by 2030 in industrialized countries, and by 2050 in […]
By Peter Bosshard, Coordinator of the Unfriend Coal Campaign The withdrawal of insurance companies from the coal sector is starting to bite. Insurance rates for coal companies are rising, which adds to their difficulty competing with renewable energy providers. In this context it is deeply concerning that Aon, a global insurance broker, is offering to […]
The world’s largest insurance brokers have refused to rule out support for the giant Carmichael coal mine in Australia, despite growing opposition to the project among insurers and financial institutions. 73 organisations with a combined membership of more than 76 million wrote to Marsh, Aon, Willis Towers Watson, the JLT Group and Arthur J. Gallagher, […]
By Peter Bosshard, Coordinator of the Unfriend Coal Campaign Matching developers with insurers, insurance brokers play a critical (if often neglected) role in making coal projects happen. New mining or infrastructure projects are typically insured by syndicates of 15 or more participants. Their developers invariably rely on brokers to manage their risks and arrange the […]
Campaigners call on laggards to back UN climate targets and refuse support for disastrous project Ten of the world’s foremost insurance companies will not provide support to develop the controversial Carmichael coal mine in Australia, following the lead set by many global financial institutions, the Unfriend Coal campaign revealed today. Companies that have explicitly refused to […]
Organizations with 76 million members warn project would have disastrous impact on climate change Katowice, Poland––73 organizations, representing a combined membership of more than 76 million people, are sending an open letter to 30 global insurance companies today, calling on them to publicly rule out any insurance services for Adani Group’s Carmichael coal mine and […]
While Europe’s major insurers step back from coal, smaller ones and US, Japanese, and Australian insurance companies are enabling coal expansion from Poland to Australia. Date and time: Thursday, December 6, 12:30-13:00 (CET) Location: Press Conference Room Katowice (Area F) Contact:Patrick McCully, patrick@ran.org, +353 877 757 010 Speakers from Poland, Australia, France, and the United […]
Insurance companies are taking unprecedented action against the coal industry, ending insurance for coal companies, mines and power plants and excluding coal from $6 trillion of investments, reveals the Unfriend Coal campaign’s second annual scorecard on the industry. Momentum is growing as four of the world’s biggest insurers have announced new restrictions on coal insurance […]
We are facing twin crises: air pollution and climate breakdown, and the solution to both is absolutely clear: we need to close coal power plants and mines in Europe on a massive scale, and we need to do it by 2030 at the absolute latest. However, while the path we have to take is clear, […]
Four companies back expansion plans as industry leaders end cover for new coal power Four European insurers are continuing to support plans to expand Poland’s coal industry, reveals research from the Unfriend Coal campaign released today as the country prepares to host the UN Climate Summit next month. Germany’s Talanx, Austrian insurers Vienna Insurance Group […]
Milan, Italy – Following the Italian insurance company, Generali’s announcement today about its improved coal exclusion policy that puts an end to insuring new coal plants and mines, while turning away new coal clients with more than 30% of their energy production or revenues coming from coal, Greenpeace Italy climate campaigner, Luca Iacoboni, said: “With […]
For immediate release Generali and Vienna Insurance Group (VIG) have signed a 365,000 euro contract to insure a recently finished 660MW coal power plant in the Czech Republic, undermining international action to tackle climate change and clean up Europe’s air, the Unfriend Coal campaign revealed today. Coal is the biggest single source of CO2 emissions. […]
By Lucie Pinson | European Coordinator of the Unfriend Coal campaign This weekend, thousands of activists from all over Europe are occupying RWE’s Hambach site, a giant open-pit lignite mine in North Rhine-Wesphalia in Germany (1). This annual mobilization has become a symbol of the fight against fossil fuels and has even greater significance this […]