Zurich tightens stance on fossil fuel underwriting
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Zurich tightens stance on fossil fuel underwriting

Luke Harrison
19 November 2021
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Aerial drone view entire Neighborhood under water near Austin , Texas

Zurich has further tightened its stance on underwriting fossil fuels and will no longer insure greenfield oil-exploration projects unless there is a “meaningful” transition plan in place, the carrier noted as part of an investor day presentation.

The company said it was planning a full phase-out of thermal coal from its underwriting portfolio by 2030 for countries in the Organisation for Economic Co-operation and Development and EU27, and by 2040 for the rest of the world...

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