Unbelievable: we need to stop them
- Details
- Published on Sunday, 29 November -0001 16:00
- Written by editor
A,
Look at them.
These are the CEOs of two of the biggest insurance giants on the planet: Lloyd’s and Chubb. Why am I bringing them up you may wonder?
Because a brand new report from our partners Insure Our Future just scored them as two of the top enablers of fossil fuel projects driving climate chaos.
Despite five decades of climate warnings, Lloyd’s CEO John Neal and Chubb CEO Evan Greenberg continue to sponsor the reckless expansion of fossil fuel production. Yet we know, without insurance, there would be no fossil fuel projects.
One of the biggest industry events is happening this week. They will surely be using this as an opportunity to brag about their “leadership”, let’s use this as an opportunity to bring them back down to earth: we won’t back down until they follow their peers and end all support for oil and gas expansion.... That is true climate leadership.
One by one, the big insurance companies are coming around on fossil fuels. It’s a risky business that harms communities and our environment, and thanks to increasing public pressure the industry is shifting.
62% of reinsurers (those who insure the insurers) now have coal exit policies and 38% have oil and gas exclusions. Just this month, Munich Re — an industry heavy-hitter — made waves by committing to end support for oil and gas expansion next year! A real people’s win.
In total contradiction with his peers, Chubb’s CEO Evan Greenberg is ignoring calls from Indigenous people, climate, and consumer advocacy groups — and even his own shareholders, who voted overwhelmingly in favor of the company reducing its climate impact. And Lloyd's record is no cleaner.
SumOfUs members just like you have pushed CEOs to act before, we can do this again. We’re teaming up with organizations across climate and Indigenous rights movements to send a barrage of emails directly to Chubb and Lloyd’s CEOs.
Last year, thanks to pressure from Indigenous communities and climate activists, Chubb committed to not insure tar sands oil projects like the destructive Trans Mountain pipeline in Canada.
People's pressure works, let’s use our collective power today!
Thanks for all that you do,
Leyla and the team at SumOfUs
More information:
2022 Scorecard on Insurance, Fossil Fuels, and the Climate Emergency
Insure Our Future. 19 October 2022.
Baden-Baden 2022: Time for reinsurers to stop fueling climate catastrophes and start accelerating the clean energy transitionInsure Our Future. 7 September 2022.
With new coal uninsurable, insurers start to move on oil and gas
Insure Our Future. 19 October 2022.
Chubb campaign video explainer
Rainforest Action Network. 29 March 2022.
From Russia to Brazil, Chubb is Insuring Deadly Oil and Gas Expansion
Common Dreams. 10 March 2022.
Munich Re commits to not insure EACOP
Insure Our Future. 6 April 2022.
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