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

Food vendors try to survive without local events

first_imgJOHNSON CITY (WBNG) – On Saturday, Mountain Top Clam Bakes brought their food truck to the Oakdale Mall. Dickerson says they have to get creative to continue to have business. Owner Patrick Dickerson told 12 News things have been “heartbreaking” without the events they normally attend throughout the summer. “There’s unions and groups that have come with us for the last 40, 50 years, and now they can’t. It’s been hard physically and mentally,” Patrick Dickerson said. “We’re just doing as much as we can…but things are getting better and as long as there is no up swing things are looking good.” The food vendor has been traveling to different locations to try and make up for the lost events. last_img read more

Eurowings opens a new line Düsseldorf – Zagreb

first_imgThe second largest airline in Croatia is recording excellent results on the Croatian market.In 2017, it had an expansion of 60% on the Croatian market with over 900.000 passengers, flights had a occupancy rate of about 90%, while with a total of 42 routes to Croatia in 2018 it expects to transport over a million passengers to / from Croatia. Encouraged by the excellent results, the inaugural flight at the new destination Zagreb-Düsseldorf, which is the fifth city to which Eurowings operates from Zagreb, was officially launched on Tuesday.In the future, they plan to focus even more on increasing the number of flights and destinations in the winter flight schedule, following the example of the Rijeka-Cologne route. “We are glad that we have introduced the fifth line to Zagreb from Germany and we expect 200.000 passengers in 2018 on these lines. We are proud that Eurowings is the fastest growing airline in Europe and in Croatia. In the coming period, we plan to further increase the number of lines and destinations to Croatia and focus on reducing seasonality in the country.”, Said Ivan Oreč, destination development manager at Eurowings.During the winter and summer flight schedules, Eurowings will connect Düsseldorf and Zagreb three times a week – on Tuesdays, Thursdays and Saturdays.The Director of the Zagreb Tourist Board, Martina Bienenfeld, believes that the opening of a new Eurowings route on the route Düsseldorf – Zagreb, in addition to existing flights to Berlin, Hamburg, Cologne and Stuttgart and direct connection with Zagreb, creates a unique opportunity to expand the market. the city of Croatia, but also the whole country to visitors from Germany, but also from all over the world. “In this regard, I would like to point out that the Croatian capital, from January to September this year, was visited by 14% (52.302) more guests from Germany who achieved an increase of 11% in overnight stays (94.301). Also, guests from Germany are positioned among the best guests in terms of length of stay in Zagreb and are always at the top of the list of visitors to our citySaid Bienenfeldlast_img read more