Insurance giant Munich Re is using a dodgy loophole to back
planet-destroying coal projects -- but it’s under growing pressure to
stop.

Its annual shareholder meeting is in just 5 days -- tell Munich Re to stop
insuring disaster.

[ [link removed] ] Sign the petition 

   
John,

Insurance giant Munich Re is using a dodgy loophole to back some of the
world’s dirtiest coal projects -- like the mammoth Bełchatów plant in
Poland, Europe’s biggest carbon polluter!

Instead of underwriting coal mines and power stations directly, it insures
other companies doing it — allowing it to keep its hands clean, while
still profiting from dirty fossil fuels.

But now the world’s No.1 reinsurer, SwissRe, has promised to stop this
practice, and pressure is mounting on Munich Re -- the second biggest --
to follow suit. 

Its annual shareholder meeting is in just 5 days. If enough of us sign we
can shine a light on its double dealings -- and embarrass the company into
action. 

[ [link removed] ]Tell Munich Re: say no to coal, stop insuring disaster

Munich Re promised three years ago to step back from coal. But today it’s
still insuring companies like PZU, which insures most Polish coal mines
and plants -- including Europe’s biggest CO2 emitter. This is greenwashing
in the extreme.

The coal industry is the single biggest cause of climate change and kills
hundreds of thousands of people a year -- and without insurance it can’t
survive.
 
Insurance firms are turning against fossil fuels, but progress is still
too slow -- if even a fraction of the world’s planned coal mines get built
it could blow our chances of meeting global climate targets.

This moment could be a turning point -- If Munich Re joins Swiss Re in
clamping down on coal, the rest are sure to follow. But they won’t move
unless we push hard -- will you help?

[ [link removed] ]Yes, I’ll tell Munich Re to stop insuring disaster

Taking on the world’s insurance giants is daunting, but no mistake our
pressure is working. Slowly but surely big insurers are dropping coal --
and that’s all down to action from people like you. Now it’s time to ramp
up our efforts, and finish the job.



[ [link removed] ] Sign the petition 



Thanks for all that you do,
Olivia, Flora, Eoin and the team at SumOfUs


More information:

[ [link removed] ]Swiss Re to phase out reinsuring coal by 2040 Reuters, March 16, 2021
[ [link removed] ]SWISS RE FIRST INSURER TO COMPLETELY PHASE OUT COAL FROM TREATY
REINSURANCE Insure Our Future, March 16, 2021

 

 

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