briefINSIGHT by Reclaim Finance
The German insurance group Talanx announced on Tuesday that it would no longer provide cover for new oil and gas fields.
By aligning itself with the commitments of its subsidiary Hannover Re , it has become the 8th international (re)insurer to make a commitment against oil and gas expansion. Talanx has also added new oil-fired power plants and oil infrastructure directly associated with new oil fields to the list of projects it will no longer insure.
Reclaim Finance welcomes Talanx’s commitments and calls on AXA and SCOR to follow suit, as the two French insurers are among the last major European (re)insurers to still offer cover for new gas fields.
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