In the past two years large players within the insurance industry have pulled out over US $20 billion of investment from the coal industry.
It is literally from A-Z, as Axa INsurance of France was the first to move away from coal and Zurich Insurance is the latest.
According to The Telegraph in the UK. “Fifteen insurers with over $4 trillion in assets covered by coal divestment decisions have now changed or are planning to change their policies around coal, with $20bn worth of investments so far pulled, according to a report published by the Unfriend Coal campaign.”
The Unfriend Coal website states the organization’s modus operandi:
“COAL IS KILLING THE PLANET, YET HUNDREDS OF NEW COAL PROJECTS ARE BEING BUILT. WITHOUT INSURANCE, THEY CAN’T GO AHEAD.”