How the Insurance Industry Could Bring Down Fossil Fuels

Late last year, Lloyd’s of London announced plans to stop selling insurance for some types of fossil fuel companies by 2030.

In the world of insurance, it was a huge move: the centuries-old institution not only took a clear stand in the industry’s debate on climate change, it also cast doubt on the value of the business it intends to give up.

And Lloyd’s isn’t the only one with concerns about the future of fossil fuel. Insurers and reinsurers around the world are grappling with issues related to both climate change and the impact of energy transition on their portfolios.

Some have made the same commitment that Lloyd’s did, and others are likely to follow.