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

Arsenal deny claims Raul Sanllehi dined with Jose Mourinho amid Unai Emery backlash

first_img Metro Sport ReporterSunday 3 Nov 2019 9:45 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link197Shares Mourinho would like to win titles at three different Premier League (Picture: Getty)Reports emerged in the Sunday Times claiming those plans were being accelerated, with Sanllehi having ‘dined’ with Mourinho last week in an effort to gauge his desire to take over.AdvertisementAdvertisementADVERTISEMENTHowever, say Arsenal have categorically refuted the claims, with no meeting having taking place.In fact, Sanllehi – who used to be at Barcelona before moving to north London – has not met Mourinho in person for several years, while there would be a number of reservations about appointing the self-proclaimed ‘Special One’.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityMourinho had no shortage of run-ins with Arsenal’s legendary boss Arsene Wenger, while his managerial approach feels hugely removed from the youth-first philosophy Arsenal promote.Although the Gunners’ form has tailed off significantly in recent weeks, Arsenal’s hierarchy are not believed to be giving any real consideration to getting rid of Emery at this stage. Comment It had been reported that Arsenal’s head of football recently met with Mourinho (Picture: Getty)Arsenal are not on the verge of axing Unai Emery, with the club reportedly refuting suggestions that head of football Raul Sanllehi met with Jose Mourinho last week.Emery is under increasing pressure after a string of below-par performances, once again forfeiting a lead in Saturday’s 1-1 draw against Wolves – a result that leaves them fifth in the Premier League, last winning at home to Bournemouth a month ago.Mourinho’s name has been put forward as a potential replacement should Arsenal pull the trigger, with the Portuguese coach believed to be keen on taking over the Gunners. Emery’s recent tactical decisions and in-game subs have been questioned (Picture: Getty)Mourinho, though, is increasingly itching to return to management as it approaches the one-year anniversary of his dismissal from Manchester United.Borussia Dortmund and Tottenham have also been linked with Mourinho, though the Portuguese himself is believed to favour a move to Real Madrid should Zinedine Zidane’s second spell at the club turn sour.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenalcenter_img Advertisement Advertisement Arsenal deny claims Raul Sanllehi dined with Jose Mourinho amid Unai Emery backlashlast_img read more