Insurance companies have pulled $20 billion from coal investment

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.”

You can find out more about the campaign and  download the campaign’s scorecard on Unload Coal’s website
Read more about Zurich’s decision at The Telegraph

 

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