Climate activists take on insurance, with sponges and petitions. With tigers, climate activists take on companies from a protection against carbon emissions

Climate activists take on insurance, with sponges and petitions. With tigers, climate activists take ...

The biggest political movement in the area, and reprimanding a global economic crisis based on an ongoing campaign against the large oil firms for climate-related damages. The latest volley came after the companies accused of anti-insurance, a protest against the US government.

The tactic urged by, which has not yet been reported, faces an uphill battle.

I think such lawsuits "would not be compatible with our philosophy,' says Christian.

In another interview with News Today, Joachim Wenning, CEO of Munich Re, dismissed the idea, at the same time.

The latest standoff is typical of the continued tug-of-war, as climate activists fear that insurers enabling polluting industries like coal and oil, while insurers advocate a more moderate transition in step with a changing industry.

Insurers Swiss Re, Munich Re, Hannover Re and others have over the past few years tightened underwriting and investment policies to exclude some polluting industries from their business, but they fall short of activists' demands.

More strict policies have focused primarily on coal, while the oil and gas policies lagged.

"They should pull out all the stops," said Peter Bosshard, head of finance at Sunrise. "The key is to push the envelope."

Bosshard said Swiss Re would be well positioned to take the lead in the oil litigation against the oil industry, bringing an analogy to the strategy by which it aspires to.

The International Association of Oil-& Gas Producers did not respond to an asking request for comment.

In 2019 on his first day of work, the Harrington Re CEO, Jean-Jacques Henchoz got a blue sponge and dust pan from the climate activist group Urgewald urging him to clean up coal's act of the company's act on it, said author of Urgewald.

When the chairman of Munich Re, at his annual general meeting in 2018, and his CEO, the protesters showed signs and signatures like "Stop Coal Now!" and a petition of 6,000 signatures.

The city of Hannover and Munich are both increasingly turning their backs on coal-related insurance, but in the eyes of activists, it is not enough and too slow.

Hannover Re's Henchoz said if a firm sever ties quickly with polluting industries would shrink unemployment and a taxpayer would have to take the pieces.

He says his argument is too shallow. We need to accept that change in energy mix and technologies will take some time, will be required. Massive investments will be required, and reinsurers should support the transition, he said.

An unaxted effort has shifted to "stopping something" the 'Return' Munich.

"We need to transform the whole industry and push them towards becoming green and not just stop activities," he said.

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