Swiss Re steps away from coal insurance business

first_imgSwiss Re steps away from coal insurance business FacebookTwitterLinkedInEmailPrint分享Greentech Media:Swiss Re took a step forward this week in its commitment to manage carbon-related sustainability risks and support the transition to a low-carbon economy. As of Monday, the Zurich-based firm no longer provides insurance or reinsurance to businesses with more than 30 percent exposure to thermal coal.The thermal coal policy announced in June 2017 was based on Swiss Re’s pledge to adopt the principles of the Paris climate agreement in 2015, which seeks to keep global warming under 2 degrees Celsius. As part of that commitment, “Swiss Re supports a progressive and structured shift away from fossil fuels,” according to a company statement.The thermal coal policy applies to both new and existing thermal coal mines and power plants, and is implemented across all lines of business and Swiss Re’s global scope of operations. The policy is an integral part of Swiss Re’s Sustainability Risk Framework, which the reinsurer uses for all underwriting and investment activities.The 30 percent threshold on Swiss Re’s insurance practice is in line with the threshold on the firm’s investment practice. As of 2016, Swiss Re stopped investing in companies that generate 30 percent or more of their revenues from thermal coal mining or that use at least 30 percent thermal coal for power generation. The reinsurer also divested from existing holdings.Swiss Re isn’t the only insurance firm to restrict its participation in the coal sector in recent months. In May, Germany’s Allianz stopped insuring single coal-fired power plants and coal mines, in response to criticism from environmental groups. Dai-ichi Life Insurance recently became the first Japanese institution to stop financing coal-fired power plants overseas, and Nippon Life Insurance is considering limits on coal plant financing.More: Swiss Re stops insuring businesses with high exposure to thermal coallast_img read more

Leicester could allow Andrej Kramaric to go with Daniel Armatey poised to join

first_img Bundesliga side Hoffenheim are reportedly keen on Kramaric and while Ranieri would not talk about the German club specifically, he said: ”I’d like all my players happy. I know that who doesn’t play is not happy, of course. If they were happy they’re mad! ”But, of course, I also have to understand what they want to do because also Kramaric has the European Championships and he needs to play. ”For me he is a fantastic player but at the moment I look more at the other three strikers. That is the problem, but for me he is an unbelievable goal scorer. ”Maybe I don’t see him involved very well with the team but he is a fantastic player, works hard during training sessions and it is so sad I don’t give him the opportunities. ”I want to speak with him and feel what he wants to do.” While Kramaric could be leaving Leicester, Daniel Amartey looks set to become the second new signing made by the Barclays Premier League title challengers during the January transfer window. FC Copenhagen announced on Monday morning that they had agreed a fee for the Ghana international, who can play in defence and in central midfield. Press Association Sport understands this to be correct, although a deal remains some way off with the player yet to finalise personal terms or arrive in the country for a medical. Leicester will also have to get a work permit for the 21-year-old. For this reason, Ranieri remain coy when asked about Amartey on Monday afternoon, saying: ”When they arrive, I’ll tell you. ”Now, we didn’t announce the player and I respect Copenhagen but I also respect myself.” Should Armatey complete his move he would become the second new face at the King Power Stadium this month after Demarai Gray joined from Birmingham for £3.75million. Leicester manager Claudio Ranieri has hinted that striker Andrej Kramaric could be heading out on loan this month. Ranieri last week told the Croatia international his interests would be better served leaving Leicester temporarily, after making just five appearances for the club under the Italian this season. Kramaric has fallen behind Jamie Vardy, Leonardo Ulloa and Shinji Okazaki in the pecking order at the King Power Stadium and Ranieri has said he will discuss the possibility of a move with the 24-year-old, who joined Leicester for £7million just a year ago. Press Associationlast_img read more

Gearing up

first_imgJared Blake, a freshman majoring in architecture, and Kimmery Galindo, a junior majoring in English, decorate their float as part of “Homecoming Fall 2011 All Bark, No Bite: Tirebiter’s Revenge” in McCarthy Quad on Tuesday.  The Office of Campus Activities will host a Homecoming Parade tomorrow at noon at Tommy Trojan.Mindy Curtis | Daily Trojanlast_img