{"id":23474,"date":"2022-10-06T14:18:59","date_gmt":"2022-10-06T12:18:59","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?p=23474"},"modified":"2023-02-08T11:40:36","modified_gmt":"2023-02-08T10:40:36","slug":"the-worlds-leading-reinsurer-takes-a-stand-against-oil-and-gas-expansion","status":"publish","type":"post","link":"https:\/\/reclaimfinance.org\/site\/en\/2022\/10\/06\/the-worlds-leading-reinsurer-takes-a-stand-against-oil-and-gas-expansion\/","title":{"rendered":"The world&rsquo;s leading reinsurer takes a stand against oil and gas expansion"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\" style=\"--awb-content-alignment:justify;--awb-text-color:var(--awb-color4);\"><p style=\"text-align: justify;\"><strong><span style=\"color: #8ac56b;\"><b>Press release<\/b><\/span><\/strong><\/p>\n<p><strong>Paris, October 6, 2022 &#8211; Munich Re, the world&rsquo;s leading reinsurer and a founding member of the Net Zero Insurance Alliance (NZIA), has announced that it will no longer cover new oil and gas production projects (1). Munich Re, thanks to its new sectoral policy, joins the second and third largest reinsurers Swiss Re and Hannover Re who also made similar commitments last March. The French SCOR, also a founding member of the international coalition of insurers committed to achieving carbon neutrality (2), is falling further and further behind its peers by continuing to support new gas production projects that are strictly incompatible with the objective of limiting global warming to 1.5\u00b0C (3). Reclaim Finance welcomes Munich Re&rsquo;s commitment against oil and gas expansion and calls on the French company SCOR to do the same at the latest by COP 27.<\/strong><\/p>\n<\/div><div class=\"fusion-text fusion-text-2\"><p><span style=\"text-decoration: underline;\"><a href=\"https:\/\/reclaimfinance.org\/site\/2022\/10\/06\/le-leader-mondial-de-la-reassurance-sengage-contre-lexpansion-petro-gaziere\/\" target=\"_blank\" rel=\"noopener\">Read the full press release in french<\/a><\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--link_hover_color: #59bc6d;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-padding-top:10px;--awb-padding-right:10px;--awb-padding-bottom:0px;--awb-padding-left:10px;--awb-overflow:hidden;--awb-bg-size:cover;--awb-border-color:#59bc6d;--awb-border-top:1px;--awb-border-right:1px;--awb-border-bottom:1px;--awb-border-left:1px;--awb-border-style:solid;--awb-border-radius:10px 10px 10px 10px;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-3\" style=\"--awb-content-alignment:justify;\"><p style=\"text-align: justify;\"><b><span style=\"text-decoration: underline; color: #59bc6d;\">Notes<\/span><span style=\"color: #59bc6d;\">:<\/span><\/b><\/p>\n<ol>\n<li>Munich Re, <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.munichre.com\/en\/company\/media-relations\/statements\/2022\/new-oil-and-gas-investment-underwriting-guidelines.html\" target=\"_blank\" rel=\"noopener\">press release: New Oil &amp; Gas investment \/ underwriting guidelines<\/a><\/span>, 2022.<\/li>\n<li>Commitment to carbon neutrality by 2050 in insurance and reinsurance portfolios<\/li>\n<li>IPCC, <span style=\"text-decoration: underline;\"><a href=\"https:\/\/report.ipcc.ch\/ar6wg3\/pdf\/IPCC_AR6_WGIII_FinalDraft_FullReport.pdf\" target=\"_blank\" rel=\"noopener\">6th Assessment report<\/a><\/span>, 2021.<\/li>\n<\/ol>\n<\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":26,"featured_media":23471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[226],"tags":[],"acteurs_financiers":[2440],"thematique":[2423,2419],"webinar_type":[],"programme":[],"class_list":["post-23474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","acteurs_financiers-insurers","thematique-fossil-fuels","thematique-oil-and-gas-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The world&#039;s leading reinsurer takes a stand against oil and gas expansion - Reclaim Finance<\/title>\n<meta name=\"description\" content=\"Munich Re has announced the termination of its coverage for new oil and gas production projects.\" 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