Global insurers exit $8.9 trillion coal-based investments

KOLKATA: Global insurers have divested roughly $8.9 trillion of coal-based investments – over one-third (37%) of the industry’s global assets, the Unfriend Coal network, a global coalition of NGOs and social movements pressuring insurance companies to quit coal, has estimated in a recent study.

According to Unfriend Coal, the number of insurers withdrawing coal cover has more than doubled in 2019 as the industry’s retreat from the sector accelerated and spread beyond Europe.