QBE, Suncorp among global insurers exiting coal: Unfriend CoalBY RACHEL ALEMBAKIS | TUESDAY, 3 DEC 2019 8:06PMAustralian insurers QBE and Suncorp are among global insurers and reinsurers withdrawing cover for new coal projects, according to the third annual Unfriend Coal scorecard. Seventeen of the world's biggest insurer have announced they are withdrawing cover for coal project, mines and power plants. That represents 46% of the reinsurance market and 9.5% of the primary insurance market, according to Unfriend Coal. Most insurers refuse to ensure new mines and power plants, while global industry leaders have ended cover for existing coal projects and the companies that operate them, and adopted similar policies for tar sands. QBE and Suncorp announced exit policies this year, while in other Asia Pacific markets, Japanese, Chinese and Korean insurers such as Tokio Marine, SOMPO, Sinosure and Samsung Fire & Marine continue to play a critical role in insuring coal, the report noted. Almost all major European insurers have adopted coal exit policies. However, most specialty insurers on |
Editor's Choice
Budget 2024: A win for clean energy, not environment
The Federal Budget is an "excellent down-payment" on clean energy - but fails on nature and biodiversity, gas, electrification, and ACCUs.
Stewardship resources should double
Stewardship is under-resourced as investors grapple with assessing how organisations align with the ambitions of clients and beneficiaries.
ESG jobs in 2024: Salaries, career tips and more
In this episode of The Greener Way, we hear from Simon Gvalda, manager of the ESG and Responsible Investment Recruitment team at Kaizen Recruitment, who recently released their much-awaited salary guide for ESG roles in 2024.
Fund selection risk a material issue
Investors face fund selection risk and a substantial disparity in performance when choosing sustainable investment strategies, especially when it comes to ESG exchange-traded funds (ETFs).