News

News

Global policy on coal underwriting and investing

December 2019  - Liberty Mutual focuses on environmental sustainability, supporting the transition to a low-carbon economy

Liberty Mutual has announced a new global policy on coal underwriting and investing. This applies to all underwriting across the Group, including Liberty Specialty Markets in the Asia Pacific region.

 

Liberty Mutual will:

  • No longer accept underwriting risk for companies where more than 25 percent of their exposure arises from the extraction and/or production of energy from thermal coal.
  • Not make new investments in debt or equity securities of companies that generate more than 25 percent of revenues from thermal coal mining or utility companies that generate more than 25 percent of their electricity production from thermal coal.
  • Phase out coverage and investments for existing risks that exceed this threshold by 2023.

"We understand the shift from coal to clean energy is a journey and we recognise the role the insurance industry plays in supporting that evolution for our customers,” said Francis Hyatt, Chief Sustainability Officer Liberty Mutual.

 

“Now more than ever it’s crucial that companies take an active role in advancing their environmental, social and governance agendas, and I look forward to partnering with internal and external stakeholders around the world to help drive positive impact in society.”

 

View the full announcement from Liberty Mutual.