About: http://data.cimple.eu/news-article/a04350b68f8da456653d28fbdf4205a7e1ab051495507539d73d59e2

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About: http://data.cimple.eu/news-article/a04350b68f8da456653d28fbdf4205a7e1ab051495507539d73d59e2 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The coal industry is under increasing financial pressure, a coalition of environmental groups said Wednesday, but insurers are not ditching the polluting fuel fast enough to meet climate targets they warned. The fourth annual scorecard by the Insure Our Future campaign found that insurers around the world continue to retreat from coal, which is having a tangible tangible impact on coal mining and power companies. It cited a broker as saying coal developers are facing rate increases of up to 40 percent this year. "However, this momentum is not keeping up with the escalating climate crisis," they warned in the report. They cited one calculation that coal emissions need to drop drastically from this year if the goal of limiting global warming to 1.5 degrees C is to be met, but noted that as of July more than 737 gigawatts of new coal power was still in the pipeline or under construction worldwide. That is not far from the estimated 975 gigawatts the entire EU had in 2015, according to the CIA World Factbook. The report said major insurance companies in the United States, Britain and East Asia are still insuring coal. "Insurers, as society's risk managers, have a responsibility to actively support the Paris Agreement and global action to avoid climate breakdown," said the report by a group that includes Greenpeace and Rainforest Action Network among others. "They have the power to drive the transition to a low-carbon economy and strong business reasons to do so," they added, pointing to the share prices of fossil fuel companies that are underperforming the market. Meanwhile, wind and solar power has enjoyed strong growth and now generate electricity more cheaply than coal. The report found that US insurers lag behind their global peers, with big firms such as AIG, Berkshire Hathaway, and Travelers failing to take any action on fossil fuels at all. It also noted that all 10 US insurers in the scorecard continue to support organisations that are lobbying against climate action. rl/wai
schema:headline	Coal under increasing financial pressure: activists
schema:mentions	American International Group Berkshire Hathaway Coal mining Greenpeace Paris Agreement Fossil fuel Solar power Wind power Pipeline transport Watt Insurance Global warming European Union United States The World Factbook Rainforest Action Network Low-carbon economy East Asia Coal-fired power station Momentum
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-12-02 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	86 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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