The US insurer Travelers adopted in January 2022 a first policy covering coal and tar sands following an important campaign by NGOs in the past months. The policy contains some first exclusions on these sectors but remains only a first insufficient step given the climate crisis we face. Travelers must urgently improve its policy, starting with the exclusion of all coal and oil & gas developers.

  • Travelers now excludes the coverage of coal plants but not coal mines.
  • It also excludes the coverage/any investments in companies deriving more than 30% of their revenues/power generation from thermal coal, but only for new risks/investments.
  • Travelers also excludes companies having more than 30% of their reserves in tar sands.

The US insurer will also phase-out its exposure to companies above these thresholds, but this is not a real phase-out from these sectors since a full phase-out requires the exit from all companies above a maximum 5% threshold rather than a 30% threshold which remains too high.

For more information, you can read the analysis of Insure Our Future on this webpage.