Allianz: Campaigners Welcome Insurer's MMove Away from Coal
Published on by Yoshimi Yoshida, Environmental Consultant at Yoshimi Yoshida Environmental Nutrition Consulting Service in Business
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.”
Attached link
https://urgewald.org/medien/allianz-campaigners-welcome-insurers-move-away-coalTaxonomy
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