Insurance

Insurance companies play a significant role in determining the extent of the climate impacts that we all face.

Insurance companies play a significant role in determining the extent of the climate impacts that we all face. Without insurance, fossil fuel companies cannot dig new coal mines, build new tar sand pipelines and expand oil and gas production. Once built, fossil fuel infrastructure locks us into dirty and expensive energy that is causing climate change and harming public health. Insurance companies are supposed to protect us from catastrophic risks. Yet when it comes to the largest threat to humanity – climate change – insurers are perpetuating dependence on fossil fuels by insuring new coal, oil and gas projects. Our best insurance is to keep fossil fuels in the ground. Insurance companies play a significant role in determining the extent of the climate impacts that we all face. Without insurance, fossil fuel companies cannot dig new coal mines, build new tar sand pipelines and expand oil and gas production. Once built, fossil fuel infrastructure locks us into dirty and expensive energy that is causing climate change and harming public health.

We have 6 demands to the insurance industry:

Immediately cease insuring new and expanded coal, oil, and gas projects.
Immediately cease insuring coal companies, unless they have a coal exit plan that commits to close all coal-related assets by 2030 in EU/OECD countries and by 2040 globally.
Phase out, in line with a 1.5ºC pathway, insurance for oil and gas companies.
Divest all assets, including assets managed for third parties, from coal, oil, and gas companies that are not aligned with a 1.5ºC pathway. Any company that is building new coal, oil, or gas expansion projects is not aligned with 1.5ºC.
Bring stewardship activities, membership of trade associations and public positions as a shareholder and corporate citizen in line with a 1.5ºC pathway in a transparent way.
Establish robust due diligence and verification mechanisms to ensure clients fully respect and observe all human rights, including the right to Free, Prior and Informed Consent (FPIC) as articulated in the UN Declaration on the Rights of Indigenous Peoples.

Campaigns

Global / Insurance

Insure Our Future International

Insurance companies have a responsibility to immediately stop insuring fossil fuel expansion. Except for a few laggards, most insurers have stopped insuring new coal projects under pressure from the Insure Our Future campaign. However, contradicting their own climate commitments, most insurers continue to underwrite the expansion of the oil and gas industry.

United States / Insurance

Insure Our Future US

Insurance companies are supposed to protect us from catastrophic risks. Yet when it comes to the largest threat to humanity – climate change – insurers are perpetuating dependence on fossil fuels by insuring new coal, oil and gas projects. Insure Our Future U.S. is a campaign holding the U.S. insurance industry accountable for its role in the climate crisis.

Australia / Asset Managers, Banks, Insurance, Investors, Regulators

#StopAdani

Mining and burning coal is the leading cause of climate change. But as the world races to solve the climate crisis, mining giant Adani are trying to build the biggest coal mine in Australia's history. Join the #StopAdani movement.

Global / Insurance

Stop the East African Crude Oil Pipeline

French oil giant Total and the China National Offshore Oil Corporation are on the cusp of building a massive crude oil pipeline right through the heart of Africa – displacing communities, endangering wildlife and tipping the world closer to full-blown climate catastrophe. The East African Crude Oil Pipeline needs to be stopped and we have a plan to do exactly that.

Canada / Banks, Insurance, Investors

Transmountain Pipeline

590,000 more barrels of tar sands each day. A 700% increase in oil tankers in the Salish Sea. A threat to endangered Orca whales. Locking Canada into a fossil fuel economy. A violation to the climate and to Indigenous Rights. This is the new Trans Mountain pipeline project. And it's why it must not be built.