Latest warning from the coal/carbon insurance activist faction;
On Sunday, October 17th, climate campaigners from a number of groups, including the Insure Our Future campaign and Fridays for Future, will gather to call on attendees of the Baden-Baden Reinsurance Conference to rule out coal from all reinsurance, including treaty reinsurance, to stop insuring all new oil and gas projects and to phase out existing oil and gas insurance in line with the 1.5C Paris Agreement goal.
Campaigners from across Europe will welcome conference attendees with banners, flyers, speeches and street painting. They will deliver a clear message to the insurance industry: “Insure Our Future, not fossil fuels.”
Where: Baden-Baden Reinsurance Conference
76530 Baden-Baden, Germany
When: Sunday, October 17th at 13.00 CET
Kuba Gogolewski commented”: “The world’s biggest reinsurance companies – Swiss Re, Munich Re, Hannover Re, SCOR, MAPFRE and Lloyd’s of London – are still reinsuring coal through companies like PZU in Poland and OZK in Bulgaria. All reinsurers must close this loophole and stop supporting coal, now.”
Burning oil and gas is one of the biggest sources of greenhouse gas emissions. Just this week, the International Energy Agency concluded that there is no justification for supporting new oil and gas projects under a net zero scenario and phasing out current operations over time is necessary to stop a rise in global temperature above 1.5C. As society’s risk manager, insurance companies have a responsibility to act on the science and immediately stop insuring all new fossil fuel projects.