The following companies are doing well, according to Insure Our Future, a study on the role of the global insurance industry in the fossil fuel sector:
|Insurer||Fossil fuel insurance rank||Fossil fuel investment rank||Other climate leadership rank|
Meanwhile, Insure Our Future has lamented that as the insurance industry’s exit from coal accelerates, so does oil and gas. According to the lobby group, only AXA, Generali and Suncorp (not included in the ranking) have policies that deny coverage for many or all new oil and gas production projects.
According to Insure Our Future, no insurer in Asia or the United States has said it will end oil and gas insurance. Meanwhile, AXA, the world’s largest fossil fuel insurer, says it recently adopted an oil and gas policy.
According to Peter Bosshard, global coordinator of Insure Our Future, which is attending the 26th United Nations Climate Change Conference in Glasgow, “the insurance industry has abandoned climate leadership by continuing to underwrite new oil and gas projects.” The scientific consensus is unequivocal: “we cannot avoid a climate catastrophe if we expand fossil fuel production.”