Allianz: Campaigners Welcome Insurer's MMove Away from Coal

Munich,  04.05.2018

Allianz, the world’s biggest insurance company by assets, announced today that it will no longer provide stand-alone insurance coverage for coal power plants or coal mines. The German insurer also announced that it will ban all companies planning to build more than 500 MW of new coal capacity from its investment portfolio. This bold step reinforces the shift of the insurance industry away from coal and increases the pressure on industry laggards to adopt coal exit policies as well.

Heffa Schuecking, executive director of the German environment and human rights organization Urgewald, says:  “The coal industry is the number one driver of climate change, and building new coal plants is incompatible with the goals of the Paris Agreement. We welcome Allianz’s move as an important step towards making the coal industry uninsurable and uninvestable.”

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1 Comment

1. I agree with the need to reduce coal-fired power plants.But the widespread expansion of hydroelectric power plants also leads to climate change.Water floods vast areas with the destruction of biota and increased artificial fumes.Approaching 70% of all land, torn away from nature.New for nature artificial evaporation from arable land, asphalt, artificial reservoirs, from technological processes change atmospheric phenomena and every year natural disasters increase - forerunners of the apocalypse.

   Согласен с необходимостью сокращения угольных электростанций. Но повсеместное расширение гидроэлектростанций также ведет к изменению климата. Водой затапливаются обширные территории с уничтожением биоты и увеличением искусственных испарений. Приближаемся к 70% всей суши, отторгнутой у природы. Новые для природы искусственные испарения от пашни, асфальта, искусственных водоемов, от технологических процессов меняют атмосферные явления и с каждым годом увеличиваются стихийные бедствия - предвестники апокалипсиса.

   1 Comment reply

   1. There is a need to internalize the hydro - electric dam construction expense into the overall productivity of the electricity generation for its lifetime.  Hydro-e has its own lifespan, too.    Dislocation of people and ecological systems also pose the other side of the climate risk -- as well.