Major insurer sparks backlash with bold move to silence shareholder vote: ‘A harbinger of what’s to come’

Major insurer sparks backlash with bold move to silence shareholder vote: ‘A harbinger of what’s to come’

Yet another big corporation is facing backlash for allegedly putting profits over people and the environment.  The Travelers Companies, better known as simply Travelers Insurance, is under fire after being accused of attempting to block shareholder efforts to gain transparency about how the insurer's decisions pertaining to the effects of increasing global temperatures are impacting both customers and its long-term business health, according to …

[New York - Mishima Daichi] The decline of ESG (environmental, social and corporate governance) investment is becoming evident in the US. According to a private survey, 41% of US insurance companies responded that they do not consider ESG when investing, up 9 percentage points from the previous year. With ESG investment facing headwinds under the Trump administration, an increasing number of investors are concerned about declining returns. Goldm…

Insurers warn climate change could unravel financial markets and endanger capitalism

A top executive at Allianz says the climate crisis is pushing insurance and broader financial systems toward collapse as rising temperatures and extreme weather make entire regions uninsurable.Damian Carrington reports for The Guardian.In short:Allianz SE board member Günther Thallinger warned that global warming is rendering climate risk uninsurable, leading to cascading failures in housing, investment, and credit markets.At projected warming l…

Capitalism Eating Itself by Fueling Climate Mayhem, Warns Capitalist

If humanity stays on current course, warns top insurer, the "financial sector as we know it ceases to function. And with it, capitalism as we know it ceases to be viable."

Creation Of Abundance Is A Corporation's Purpose - Nemos News Network

Authored by Terrence Keeley via RealClearPolitics, Does capitalism need to be fixed? Is it no longer fit for purpose in this modern era, given our environmental ecosystems are under self-evident strain and income gaps are widening to levels not seen since the “robber baron” era? This was the question I was called to answer at […]

Is Climate Change an Existential Threat to Modern Capitalism? An Insurance Executive’s Perspective

I have written extensively on the relationship between insurance and climate change, going back to early comments and work on the subject by Lloyds‘, and continued to address it in the context of insurers withdrawing from markets in the face of climate related losses. I am known for saying that the insurance industry is, in fact and in many ways, environmentalists’ best friend, in that the industry’s economic interest in limiting the damaging im…