'In the lead-up to Chubb’s May 2022 annual general meeting, Rainforest Action Network and partners are joining calls led by Chubb’s shareholders and urging the company to rule out insuring deadly fossil fuel expansion.'
to meet from Indigenous leaders and frontline communities impacted by its insurance and investment practices, and it has not adopted a single new policy limiting support for fossil fuels since 2019.
U.S. peers are ruling out support for tar sands and Arctic drilling; European and Australian insurers are taking concrete steps to limit oil and gas expansion. Chubb has gone quiet. The one area where the company has been vocal is on limiting its exposure to communities on the frontlines of the climate crisis.
Chubb is insuring oil and gas extraction and transport in Russia, fueling Russia’s war on Ukraine. In fact, Chubb called Russian oil and gas “one of the most promising activities” of its Russian operations. The insurer was, a massive, controversial natural gas pipeline built by Gazprom, the world’s largest producer of gas and a majority Russian state-owned fossil fuel company .
Chubb is a top insurer of offshore oil and gas drilling in Brazil, which is slated to expand oil production by up to 70% over the next decade. Chubb is one of the, Brazil's state-owned energy company, which extracts around 93% of the country's oil and gas. Oil exploration off the coast of Brazil occurs in some of the world's most sensitive ecological sites around the Great Amazon Reef and threatens both global climate stability and local ecosystems and coastal communities.
Chubb has refused to rule out insurance coverage for oil and gas drilling in the Arctic National Wildlife Refuge. The Gwich’in Steering Committee has
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