If Lloyd’s of London thought it would win favour with its new coal divestment policy then it might be in for a rethink – because its moves have been met with stark criticism from the Unfriend Coal campaign.
Its new policy, which was announced in November and took effect yesterday, has been criticised for impacting “just 2.5% of the market” Lloyd’s oversees by protecting its just under £2 billion Central Fund only and leaving its syndicates “free to continue business as usual.” According to the campaigners, £77.5 billion has been exposed to climate risk.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.