companies: It will also stop investing in these companies because of their contribution to the global climate crisis, according to The Guardian. Chubb said its existing investments and insurance policies with coal-powered companies and miners would be phased out by 2022. Chubb has ruled out selling new insurance policies to companies which build or operate coal power plants, or those which generate more than 30% of their revenue from coal mining or supplying coal-fired electricity. It will begin cutting ties with major coal-using utilities, such as the German energy giant RWE, from the same year. This is expected to deal a blow to global coal kingpins such as Anglo-American, Glencore and RWE. Chubb's anti-coal pledge is the latest in a rising number of divestments among major financial players as the risks of the climate crisis become clearer. Evan Greenberg, the chairman and chief executive of Chubb, said Chubb recognises the reality of climate change and the substantial impact of human activity on our planet.
(news.financializer.com). As
reported in the news.
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