Climate protesters list 2025 demands to insurance industry

Climate campaign group Insure Our Future has issued a list of demands after scrutinising the insurance industry’s involvement in fossil fuels.

On 2 January 2024, Isabelle L’Héritier, European co-coordinator at Insure Our Future, alleged that some insurers’ actions were hindering progress toward reducing emissions and transitioning to renewable energy.

Insure Our Future has now told Insurance Times what type of projects it wants the industry to stop underwriting.

This includes new and expanded coal, oil, and gas projects, phasing out services for non-compliant fossil fuel companies by 2025 and divesting assets from fossil fuel firms without robust transition plans.

The group also demanded that insurers adopt binding targets for reducing insured emissions, ensure polluters pay for climate damages and improve due diligence.

Additionally, they are calling for insurers to align their public positions, trade associations and shareholder activities with a credible 1.5°C pathway.

Protests

L’Héritier also warned that if they “refuse to stop supporting the expansion of fossil fuels”, the group will “hold them accountable” through protests.

However, Insure Our Future signalled a willingness to collaborate with insurers who it feels are committing to climate action.

L’Héritier said: “More people are outraged as insurers leave them unprotected when disasters strike while continuing to underwrite projects that worsen the climate crisis.

“If we see commitments, particularly on phasing out midstream and downstream oil and gas and the liquefied natural gas value chain, we are ready to support the industry in building resilience and developing innovative solutions for a just transition.”