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.”
The Good, the Bad and the Ugly Fossil Fuel Policies of Lloyd’s Managing Agents
This report by Reclaim Finance analyses Lloyd’s top 20 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: “2023 must be a year of game-changing climate action. No more baby steps. No more excuses. No more greenwashing”.