Green Century Capital Management tried to use shareholder muscle to persuade at least a trio of insurance companies to drop fossil-fuel clients.
So far, the insurance firms aren’t biting; all three have filed no-action requests with the Securities and Exchange Commission.
The resolutions, in advance of proxy season this spring, call on Chubb CB , Travelers TRV and The Hartford HIG to take this bold step as private-sector efforts to curb global warming from the burning of coal, oil CL00 and gas NG00 pick up, alongside global government action.
The insurance resolutions represent the first time that shareholders have laid down this sizable challenge to this industry for what the activists say are its contributions to the climate crisis.
Author(s): Rachel Koning Beals
Publication Date: 17 Feb 2022
Publication Site: MarketWatch