LLOYD’S OF LONDON
Mitigate climate risk. Stop insuring coal, oil and gas expansion.
Phase out insurance for fossil fuel companies that are not aligned with a credible 1.5°C pathway within two years.
International Energy Agency (IEA): “Net zero means huge declines in the use of fossil fuels. Beyond 2021, no new oil and gas fields, coal mines or mine extensions are approved for development in our pathway.”
Our vision for Lloyd’s climate policy
Lloyd’s should instruct its managing agents and syndicates to stop insuring fossil fuel expansion and to align all underwriting and investments with the climate policy recommendations of the International Energy Agency.
International Energy Agency (IEA): “Net zero means huge declines in the use of fossil fuels. Beyond 2021, no new oil and gas fields, coal mines or mine extensions are approved for development in our pathway.”
For a few dollars more – the Fossil Fuel Policies of Lloyd’s Managing Agents 2
Updated for 2024, this report by Reclaim Finance for the first time analyses all Lloyd’s managing agents’ fossil fuel policies, Lloyd’s climate commitments and the actions that need to be taken to align with the global goal of limiting climate change to 1.5°C.
António Guterres, UN Secretary-General, 2024: ““I call on these companies to stop acting as enablers to planetary destruction. Stop taking on new fossil fuel clients, from today, and set out plans to drop your existing ones”.