Chinese insurers lag global peers on fossil fuel policies
European insurers lead the industry in having insurance and investment policies put in place to limit exposure to fossil fuels, while US and Asian firms received bottom scores.
Chinese insurers continue to provide insurance for fossil fuel projects and lack investment exclusion policies in the sector, compared with its Asian and European peers, a scorecard published by the Insure Our Future campaign has revealed.
Sinosure and the People’s Insurance Company of China (PICC) do not have restrictions on fossil fuel investments put in place, nor do they have restrictions on underwriting fossil fuels, the report published on Wednesday (November 2) found.
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