Zurich Insurance to Halt Coverage of New Fossil-Fuel Exposures [Financial Post (Toronto, Ontario, Canada)]
ZURICH INS GROUP S/ADR (ZURVY)
NASDAQ:AMEX Investor Relations:
zurich.com/en/investor-relations
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Zurich Insurance Group AG will no longer underwrite new oil and gas projects, and is cracking down on clients planning to expand in metallurgical coal mining. The restrictions also entail asking the highest-emitting corporate customers to reduce their carbon footprints, the company told Bloomberg. Further details of the policy will be included in the insurer's climate-transition plan, which will be announced later this year. Article content Article content Sierra Signorelli, chief executive of commercial insurance at Zurich, said the decision reflects the disconnect between such activities and the insurer's overall goal of achieving net zero emissions by 2050. “Further exploration and development of fossil fuels isn't required for the transition,” she said in an interview. “We think it's the right time to evolve our position.” The move repre
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