Chubb, a U.S. insurer, announced it is phasing out insurance and investments in companies that have more than 30% of their revenue from coal. It will also stop underwriting new coal plants, and phase out insurance on existing coal plants. This follows European insurance companies which are also phasing out insurance for coal. Coal is one of the most polluting sources of energy, and this will help keep the air cleaner and help mitigate climate change. Let’s hope more U.S. insurers follow Chubb and their European colleagues.
