Lloyds of London, the world’s oldest insurance market, has announced their plans to stop investing in coal. It will begin to exclude coal from its investment strategy from 1st April 2018. This follows on the heels of other UK and European insurance companies who have begun moving away from fossil fuels, including Allianz, Axa and Zurich.
With insurance companies becoming more mindful of the impacts that climate change is having on their current, and future finances, are more corporations likely to follow suit in order to secure their assets?
Are we likely to see more investment in renewables as a result?