Dear Mr. Duperreault, Mr. Greenberg, and Mr. Long,
The Intergovernmental Panel on Climate Change (IPCC) has warned that we only have 12 years left to take bold action on climate change to limit warming to 1.5 degrees Celsius, the goal of the Paris Agreement. This requires an immediate end to coal and tar sands infrastructure development and investment, and it is unacceptable that the insurance industry continues to support these sectors and actively undermine the goals of the Paris Agreement.
As CEOs of three of the largest property and casualty insurance companies in the US, you have a responsibility to urgently scale up your actions to bring about the rapid and far-reaching transition to a low-carbon economy. Furthermore, these industries pose grave threats to the land rights, health, and wellbeing of communities around the globe that live at sites of coal and tar sands extraction, transportation, and combustion.
We call on AIG, Chubb, and Liberty Mutual to immediately stop underwriting coal and tar sands projects, start divesting from coal and tar sands companies, and phase out all business activities in line with 1.5ºC.