In line with its sustainability risk framework and consistent with the Paris Agreement, Swiss Re has begun implementing a group-wide policy that will see the insurance giant shutting its doors to businesses with more than 30% exposure to thermal coal.
Announcing the plan’s effectivity, Swiss Re said the decision to come up with a thermal coal policy was based on its commitment to the “Paris Pledge for Action,” taking on global warming and supporting what it described as a “progressive and structured” shift away from fossil fuels. Implemented across all lines of business and the (re)insurer’s global scope of operations, the policy applies to both existing and new thermal coal mines and power plants.
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.