Underwriters Weigh Industry 'Soft Power' In ESG Efforts
By Martin Croucher (June 10, 2022, 1:31 PM BST) -- Top insurers in the London market are considering ways they can use their "soft power" to help meet climate objectives, launching an environmental, social and governance committee, as pressure grows on the sector to stop issuing cover to coal projects.
The International Underwriting Association said Thursday that representatives of 20 of its members have joined the new committee as the sector comes increasingly under the spotlight of campaigners demanding that insurers distance themselves with climate polluting industries. Campaign group Insure Our Future said Thursday that 39 insurers have stopped providing cover for coal projects, and has called for more companies to...
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