The number of insurers adopting policies on oil and gas has slowed, according to climate activist organization Insure Our Future’s seventh annual “Scorecard on Insurance, Fossil Fuels and the Climate Emergency” released this week.
The scorecard assesses the policies on insuring and investing in coal, oil and gas of 30 insurers and reinsurers. It highlights what the authors view as progress and loopholes, and it lists those insurers they believe are industry leaders on these policies and those they consider laggards.
After an uptick in insurers restricting investing in or coverage of oil and gas, five major insurers adopted oil and gas restrictions in 2021 followed by seven in 2022. However, only four companies adopted these policies in 2