Insurance Climate Change and The Law


Page 155

Insuring green and not insuring brown

Although insurers are not seen as direct polluters, climate activists have sought to highlight the role of the insurance industry in fuelling the climate crisis by continuing to insure coal and oil projects. In 2021, Extinction Rebellion dumped fake coal outside Lloyd's of London and held up banners reading ‘climate criminals’ and ‘insuring fossil fuels = ensuring climate breakdown.’1 Meanwhile, there is recognition that the insurance industry must be part of the joint global effort to meet the Paris Agreement objectives of climate change mitigation, climate change adaptation, and climate resilience.2

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