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Zurich Insurance

Climate love

Global insurer Zurich Insurance stops underwriting new oil and gas projects

Global leader in the insurance industry, Zurich Insurance recently announced its decision to cease underwriting new fossil fuel projects. This strategic move is part of Zurich's broader initiative to distance itself from high-emission industries like metallurgical coal mining and to align its operations with sustainability goals.
Sierra Signorelli, Zurich's chief executive of commercial insurance, talked about the urgency of the transition away from fossil fuels, citing the company's aim for net-zero emissions by 2050 as a guiding principle. I guess we have different definitions of "urgency" but it's a first step forward for the company.

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Despite generating significant premiums from fossil fuel clients in the past, US$2.1 billion in premiums from such clients in the previous year, which accounts for 7% of the company's total commercial premiums, Zurich anticipates minimal financial impact from this policy adjustment. This decision demonstrates the company's commitment to prioritising environmental stewardship over short-term profits. Zurich's decision has received positive reactions from environmental advocacy groups, pointing to it as a move towards greater accountability within the insurance industry.
Moving forward, Zurich plans to engage with its highest-emission corporate clients, demanding they establish emissions reduction targets and develop strategies for achieving net-zero emissions. By shifting focus towards emerging clean-energy infrastructures and promoting sustainability, Zurich aims to set an example for its industry peers.




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  • Lucinda Ramsay

    2 w

    Great news!

    • zelda ninga

      4 w

      This is a bold and wise decision that Zurich has made, others should follow their example including Banks.

      1
      • Ann Nyambura

        5 w

        It's awesome to see a big player like them taking a stand for the environment.

        2
        • George Kariuki

          5 w

          Insuring a sustainable future requires prioritizing clean energy & holding high-emitters accountable. Let's see if Zurich translates their words into action.

          2
          • Rashid Kamau

            5 w

            Super impressive,concentrating with renewable energy sources can buffer against potential disruptions from climate impacts, ensuring consistent energy supply.

            3
            • walter lungayi

              6 w

              This is a commendable move. This decision underscores the company's commitment to environmental sustainability and aligns with the global effort to reduce carbon emissions.

              2
              • We Don't Have Time

                6 w

                Dear Sarah Chabane Your climate love has received over 50 agrees! We have reached out to Zurich Insurance by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

                1
                • Ingmar Rentzhog

                  6 w

                  My next insurer. Thank you zurich! #movethemoney

                  4
                  • Adama COULIBALY

                    6 w

                    La décision de Zurich Insurance de cesser de souscrire de nouveaux projets liés aux combustibles fossiles est une avancée majeure dans la lutte contre le changement climatique. En tant que leader mondial de l'assurance, Zurich montre l'exemple en alignant ses opérations sur des objectifs de développement durable. L'engagement envers zéro émission nette d'ici 2050 témoigne d'une prise de conscience de l'urgence climatique. C'est un premier pas significatif vers un avenir plus durable.

                    3
                    • Elizabeth Gathigia

                      6 w

                      A wise decision and a step into the right direction, other insurers should follow this

                      4
                      • Kihm Francis

                        6 w

                        fantastic news Zurich

                        4
                        • mary Mwihaki

                          6 w

                          What a great news this is kind of news we need

                          5
                          • Edwin wangombe

                            6 w

                            this is the type of news we need.., I hope Zurich inspires more of such actions from others

                            5
                            • Annett Michuki..

                              6 w

                              that is what an impactful decision the company has made

                              14
                              • Edwin wangombe

                                6 w

                                @annett_michuki It is an enormous sacrifice for its business but necessary for the betterment of our planet

                                4
                              • Kevin

                                6 w

                                This is massive! All future projects must have a climate oriented goal that means focusing on renewable and green approaches.

                                13
                                • Edwin wangombe

                                  6 w

                                  @Kevin Yes... well said ... I hope other insurance companies follow this example

                                  4
                                • DIPANJANA MAULIK

                                  6 w

                                  Pioneering venture

                                  4
                                  • Edwin wangombe

                                    6 w

                                    @dipanjana_maulik they will go down in the books of history as the company that puts the planet before profit... Kudos

                                    5
                                    • DIPANJANA MAULIK

                                      5 w

                                      @edwin_wangombe, yes, this pioneering venture is going to change the way citizens make a choice and makes a difference.

                                      1
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